## **Trustees’ Annual Report for the period** **From 1st October 2023 to 30th September 2024** ## **Charity name: The Elizabeth Nicola Hirst Charitable Trust** ## **Charity registration number: 1206123** The Elizabeth Nicola Hist Charitable Trust was set up in 2023 to carry out the testamentary wishes of Ms Hirst, to disburse grants though various charities for the benefit of disabled people, primarily those living in South Yorkshire. ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|To provide income (to be distributed on a
regular basis) and capital at the discretion at
the trustees, to such charity (as shall have
the meaning of the Charities Act 2011) that
provide for:- - the advancement of education;
- the relief of those in need by reason of ill
health, disability, hardship or other
disadvantage; -the advancement of health or
the saving of lives; and - any other charitable
purpose and in particular:- - such colleges or
other professional establishments within the
South Yorkshire area for the purpose of:- 1
improving access, facilities and activities for
disabled people; and 2 providing courses in
fashion for disabled people; and 3 providing
courses in accessible clothing and fashion
for use by disabled people such institutions
who can assist with the provision of holidays
for disabled people and their carers, such
disabled people and their carers residing
within the South Yorkshire area
Motability of Warwick House, Roydon road,
Harlow, Essex, CM19 5PZ
Cancer Research of 2 Redman Place,
London E20 1JQ| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|The initial aims were to set up the charity in
line with Ms Hirst’s will and testament and to
register as a charitable trust; creating
policies and procedures to support the
ongoing work of the trust.
As Ms Hirst’s will was still in probate
throughout the first year of operation, only
part of the capital was transferred to the
Trust in its first year. The monies were used
to set up some initial investments and to pay| |||the expenses associated with setting up the
Trust. The trustees focused on setting up the
legal documents, systems, required policies
and the investment strategy in the first year.
For these reasons the Trustees did not make
any grants in the first year of operation.| |---|---|---| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|We, the Trustees, confirm that we have read
and applied the guidance to the best of our
knowledge.| ## **Additional information (optional)** ## **Grant making criteria** The grant making criteria are attached ## **Policy on social investment including program related investment** The trustees agreed that we prefer to invest according to ESG standards as long as this does not reduce the Trust income. ## **Achievements and Performance** ||Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|This is the first year of the new trust, and the
estate was still in probate. The monies were
released in small amounts and the trust was
still waiting for much of the money to be to
be transferred. The trustees did not have
enough income from the new investments to
make any grants in its first year.
There were additional legal and financial
costs in the first year for setting up the new
charity.
The trust aims to maintain the value of the
capital in real terms and disburse the
reminder of the capital once expenses are
paid. The trustees have made initial contact
with suitable charities in South Yorkshire.
The trust received over twenty applications
in the first year but none met the criteria as
set out in the trust deed and registration.|| |---|---|---|---|---| ## **Additional information (optional)** You may choose to include further statements where relevant about: |
Achievements against
objectives set|
Para 1.41|
Achievements in the first year were to
appoint the Trust’s legal advisors and
Independent Financial Advisor, to agree the
investment policy, to submit all legal forms to
the Charity Commission in order to register
the Trust as a charity, to agree the Grant
making policy, and to set up the remainder
of the polices and systems. These were
achieved.| |---|---|---| |Performance of fundraising
activities against objectives||Not applicable. The Trust does not
fundraise. The Trust was set up to
administer the bequest from the estate of Ms| |set|Para 1.41|Elizabeth Nicola Hirst.| |---|---|---| |Investment performance
against objectives|Para 1.41|The trustees agreed a provisional return of
8% on investments with the IFA. This has
been met. Once the entire bequest,
expected to be at least £2m, has been
transferred and invested the trustees will
actively seek suitable beneficiaries. Any
remaining monies each year from the profits
will be allocated to Ms Hirst’s named
residuary charities.| |Other||Note that the Trustees were appointed in line
with the last will and testament of Ms
Elizabeth Nicola Hirst and taking into
account her memorandum of wishes.| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|**See attached accounts**| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|It was agreed that the Trustees should aim
to maintain the capital at the level of the
bequest, in real terms. Additional profits will
be made available to disburse in line with the
charity’s objectives.| |Amount of reserves held|Para 1.22|The trustees hold a small amount to money
for anticipated bills, all other income was
invested.| |Reasons for holding zero
reserves|Para 1.22|Not applicable| |Details of fund materially in
deficit|Para 1.24|Not applicable| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|none| ## **Additional information (optional)** You may choose to include further statements where relevant about: |
The charity’s principal
sources of funds (including
any fundraising)|
Para 1.47|
The trust was set up in line with the bequest
from Ms Elizabeth Nicola Hirst. In future
years half of the investment income will be
used to maintain the capital in real terms
while the rest, after deducting expenses, will
be disbursed in line with the Trust Deed.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|The trustees agreed to invest in line with
Environmental, social and governance
factors, where this would not significantly
reduce the value and profits from the
investments.
The discretionary fund managers were
advised of this policy.| |A description of the principal|Para 1.46|The main risk is uncertainty about
investment income. The trustees meet
regularly with our Independent Financial| risks facing the charity Advisor to review holdings and make decisions about the investment policy. ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(|Para 1.25|Trust Deed| |How is the charity
constituted?|Para 1.25|As a charitable trust| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|The initial trustees were appointed by the
solicitors dealing with the estate in
consultation with the new solicitor who was
initially appointed to manage the transfer
from probate to the Trust. The Trust
currently has three trustees, who serve for
up to three years. Additional trustees will be
appointed by the trustees in consultation
with the legal advisor. All trustees underwent
ID checks, and also applied for DBS
certificates.| |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |Policies and procedures
adopted for the induction and
training of trustees|Para 1.51|During the first year Trustees were taken
through the investment process and
developing an investment policy by the
Independent Financial Advisor.
New trustees have access to a shared
directory of policy documents and Charity
Commission guidance.| |Other||The grant making criteria include information
about how to assess disability in line with the
Trust’s policies. These were developed by
Ms Williams who has extensive experience
and training in disability issues and policies,
and agreed by all trustees.| ## **Reference and Administrative details** |Charity name|The Elizabeth Nicola Hirst Charitable Trust| |---|---| |Other name the charity uses|none| |Registered charity number|1206123| |Charity’s principal address|Oxley & Coward Solicitors LLP
UNIT K
The Point
Beadmarsh Business Park
ROTHERHAM
S60 1BP| **Names of the charity trustees who manage the charity** |1
2
3|**Trustee name**|**Office (if any)**|**Dates acted if not**
**for whole year**|**Name of person (or body)**
**entitled to appoint trustee (if**
**any)**| |---|---|---|---|---| ||Raymond Vaughan
Griffiths|Chairperson||| ||Alan David Teale|||| ||Patricia Williams|||| ## Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |none||| |**Funds held as custodian trustees on behalf of others**|**Funds held as custodian trustees on behalf of others**| |---|---| |Description of the assets
held in this capacity|The Trust holds monies bequeathed from the will of Ms
Elizabeth Nicola Hirst. All monies were transferred to the
Independent Financial Advisor to invest except for a small
amount held in the bank to cover expenses.| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|none| |Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets|Not applicable| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and**|**addresses of advisers (Optional information)**|**addresses of advisers (Optional information)**| |---|---|---| |**Type of**
**adviser**|**Name**
**Address**|| |**IFA**|Russell Bavinton|The Wealth Management Group LLP
13 Brantcliffe Road, Baildon, Shipley, BD17 5PA| |**Legal**
**advisor**|Jayne Jackson (now
retired), Christopher
Shaw and Hollie
Smith|Oxley & Coward Solicitors LLP
Unit K, The Point, Bradmarsh Business Park
Rotherham S60 1BP| |||| **Name of chief executive or names of senior staff members (Optional information)** none ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **none** ## **Other optional information** Note that the trustees were formally appointed in August 2023 by the solicitors dealing with the estate, and the charitable trust was registered in December 2023 Declarations The trustees declare that they have approved the trustees. report above. Signed on behalf of the charws tr￿teaS Signature(s) I.VG Full namels) Position (eg Secretary, Chair, •tc) akp4, /z Dat• ID -q -797. **Grant making criteria 2024** ## **Criteria for decisions about Grants from the Elizabeth Nicola Hirst Charitable Trust** The trustees will review all applications against the purposes of the Trust. At least two trustees will approve any application. The Trustees may agree to provide a grant covering more than one year, e.g. to access a multi-year course. Grants are available within South Yorkshire for the following purposes: Improving access, facilities and activities for disabled people, in particular - 1 providing grants towards courses in fashion for disabled people, particularly for aids or adjustments to improve accessibility; - 2 providing grants towards courses in accessible clothing and fashion for use by disabled people In addition monies may be available for: 3 such institutions who can assist with the provision of grants for holidays, for named disabled people and their carers, such disabled people residing within the South Yorkshire area. Remaining monies in each year which are not added back into capital* may be distributed to: 4 Motability of Warwick House, Roydon Road, Harlow, Essex, CM19 5PZ, Registered Charity Number 299745, or - 5 Cancer Research of 2 Redman Place, London E20 1JQ Where more valid applications are received within a financial year than monies available then the applications will be ranked in the following order: - 1) any multi-year funding previously agreed - 2) urgent need - 3) date of applications within the relevant year People with disabilities will be eligible provided they have a chronic health condition or disability expected to last at least six months. The trustees will require either proof of a disability benefit or medical evidence. The trustees do not expect to provide grants to under 18 year olds as schools already receive central government funding for children with special education needs and disabilities. * The Trustees aim to keep the capital sum at least to the equivalent amount in real terms based on the initial bequest. Signed Alan Teale dated Ray Griffiths dated Patricia (Tricia) Williams dated **Annex to Grant making criteria** ## **Definition of disability - the Equality Act 2010** A person is counted as disabled under the Equality Act 2010 if they have a physical or mental impairment that has a ‘substantial’ and ‘long-term’ negative effect on their ability to do normal daily activities. An exception to this is a person with severe disfigurement. The Act also provides protection for non-disabled people who are subjected to direct discrimination or harassment because of their association with a disabled person. The Act covers: - sensory impairments, such as those affecting sight or hearing - impairments with fluctuating or recurring effects such as rheumatoid arthritis, myalgic encephalitis (ME), chronic fatigue syndrome (CFS), fibromyalgia, depression and epilepsy • progressive, such as motor neurone disease, muscular dystrophy, and forms of dementia - auto-immune conditions such as systemic lupus erythematosis (SLE) - organ specific, including respiratory conditions, such as asthma, and cardiovascular diseases, including thrombosis, stroke and heart disease - developmental, such as autistic spectrum disorders (ASD), dyslexia and dyspraxia - learning disabilities • mental health conditions with symptoms such as anxiety, low mood, panic attacks, phobias, or unshared perceptions; eating disorders; bipolar affective disorders; obsessive compulsive disorders; personality disorders; post traumatic stress disorder, and some selfharming behaviour - mental illnesses, such as depression and schizophrenia - produced by injury to the body, including to the brain However, the Act talks about ‘reasonable adjustments’, which may limit the amount of money required to be spent or the scope of adjustments. The understanding of what may be reasonable for different entities or different businesses therefore been clarified through case law but it is not absolute. So, for example, a person with unique complex health conditions that require round the clock care will have funding to support those needs at home or in a care setting but will rarely find at public events the level of support at same degree. https://www.legislation.gov.uk/ukpga/2010/15/contents REG18TERED CHARITYNUMBER.. 12D6123 on 2310 Th• Ellzab•th Nko14 Hlrn WkJtt8 Umll8d, Stalubry Audit Chirterod Ae¢Mtanli Sklngs C Laka￿d9 Ocff8Bl8r South Yothshlrg DN4 5NU The Elizabeth Nlcola HI Contentg of the Flnanclal Statements For Thè Period 11 So tember 2023 to 30 S& lambor 2024 Pig• hren¢• •ndAdmlntstrJUvq D•tslli R•port olth• Trusto•• 2 ¢0 5 R•port of Ihe Ind•p•nd•nlAudMo 6 to 7 8til•rnintol Flnancl•l kdvlll•• Balan¢e 8hfr•t Cuh Flow Slat•mMI 10 NotMtoth• Cmh Flow Slth•Dt N¢tM lo th• FIn•nc￿l 8t•t•m•nt• 12 to 14 The Elizabeth Nicola Hirst Charlt8ble Trust Rofernncè and Admlnl8tratfvè Dotalls For The Perlod 11 Se tember 2023 10 30 Se tember 2024 TRUSTEES A D Tqab I￿pr￿n1¢d 11.9.20231 P Willkgms (appointed 11.9.20231 R V Gnffths {apwint￿ 11.9,20231 P Lundy lapwlntfrd 1.8,20251 PRINCIPAL ADDRess elo OXW & thw¥d Sdlc41Ns LLP Unll K The P￿Trt, BrndrrwBh B￿neSs Paik Roth8rham 8fj01BP REGISTERED CFiARITY NUMBER 1206123 AUDifoR8 rg5wwd Limli8d, s￿b￿￿AUd￿or Chwtsred AecoMt8nls Sldlng8 C￿rt Lako6ld8 Donc06t Souih Yth8hir• DN4 SNU SQLICITQRS Oxley 8 Cthywd Sdic41or8 LLP Unll K T￿ Polnl Bradmarnh BusSnai8 Park Rothoihgm Soulh Ycrkshlre S801BP AOIASERS Thè Waallh MBn8G4mèrl Group LLP I Parkviow Ctyjrt Sl, Pau16 Ro8d Shlpley BD18 JDZ Page I The Elizabeth Nicola Hirst Charltabl8 Trust Re For The Perlod 11 Se ort of the Tru$te•s tember 2023 to 30 Se lember 2024 The truslees present rewrt the financll stalements of the charrty loi the period 11 September 202310 30 Seplorn￿r 2024. The Iru51ees have Adtytd th8 rMovlsbn$ ol Accojnting end Repo￿n￿ by char￿¢8.. Sla18monl of Re¢omm8nd8d PiactSc8 8pplkat48 lo charlbes pr8p4ring th61r 8c£owts In acc(thnce with Fina￿181 Rewjthg Stsndth 8PpI￿￿e in thè UK and Republicol lida￿ IFRS 1021 leffeeiive 1 Jamary 20191. The Ellzabeth NIcL4a H￿1 Charrta￿ Trust Was $61 up In 2023 to carry out tsslèmDntary ￿$ho8 of Ms Hlrs¢ to dlsbLYSD gr￿t6 thrAJgh v8iknu8 charfUg5 *r tr b8￿fil oldisabled peoplg, primarly those liviry in Soth York8hire. OBJECTIVES AND ACTIVlnES Oblecilvei and alm• The charitys ot4ecbve is ￿ piovlde income lio be distrlbuled on a regular ￿.$} and capifl al tho ¢lscrelon al the tru$t¢e5, to euch ¢h8rity las 5hg11 have tho rneanl￿ ol ￿ Charlllos Act20111 th81 piovlde for.. the 8dv3nc8ff￿nt d&ducall￿., the ielief olthose in nBed ty ollll heollh, dlsabllity. haidsNp 0roth8rd1s￿Yanl89e.' Ihp *Jvancemenl olheallh orlhe Sa￿Trg of Ilve8,' and 8nyoiherchari18￿e puip050 and in particular.. iuch coll898S Dr 0th8rprof8ssional 8BL8bUshm9nts whhkn the South Yolrf$hlr9 Irèiftsi puiwsa ol.. Improving 8ccEss, laeillllea and aC￿-￿tio5 lordlgabled po4I6.' and OVI￿ry courses in lashlon IN dlsabl6d people,, provlding cours88 In 8¢¢e￿ible doihiro and fashI￿fOrySe bydi58bled pe￿? InsllLrtknns who ¢8n asS1slvlthth8 WOVYdknn of holld&ysfor dI$8￿9d peoplg Ihglr ￿rers, su¢h disablgd WOF49 4nd ih•ii vilhin lh8 SouLh Yoik5hlie area The Ini1Sd fj1￿ wor8 lo s81 up the ¢tharily In Ilw vAth Hirsl'B ￿11 t￿leMent and lo ￿9t￿r 88 8 ¢h8dtsblo iwst,. crea11￿ pold88 and prOC￿ule8 to support lth ongolng work olthe trjsl. A8 Hli8fs wll was sbll in prL*ale Ihrougthui t￿ first year ol operaoon, 0￿Y pHrt ol lh6 cap1￿1 was Iian818rffjd lo the TTUSI In Ils Ir31 yw. rr1￿5?8 vKr8 uied io sei up soma inlllal inveslm6nis and lo pay the expen868 8$sodaied %llh up tho Trust. The truslee6 Io¢used on itltiro up tho legal docum8ni8, s￿¢8m9, iewired pdiuej End the in¥e3theTrl8lr8tegy In the fi13lyear. Foi Ihe89 re8son3 the Trusteos dld Ml rnakl arysYfjnt8 tho Ilr81 y•arof opeiotknn. P￿blIC beniflt W8, Iho Trusi88s, confirm th41 ¥vg hava rèid Ind owl￿d lh¥ ChadtyComris*on'$ g￿eral guld&n¢o on b6MfiI to the b￿1010￿ kwwledgo, So¢lJl Inv•ilrngnl• Th& rru51e85 agi88d Ih8ifft po1¥i to Inwst lo ESG standards 1$ kng a$ thi8 do68 nol rwJuc4 Trust Incorne. Grintsniklng The truale81 wll rèvi6wg11 oppllcadons against ihe puipcoes ol ihe TnJBI. Al kasl two Iruslees wlll typrove ￿Y 8ppli¢alion. The Truslge8 may 8grie lo piovlts B grnrrt e&¥¢rfro morfrlhan on• yèar. i.g. to4￿¥ o m￿1￿681 coursè, Grants arè av8ilail&wllhin South Yothshim loilh• purpDM8'. lnyiov1￿ gcco$y, lacllluos and &clivilios loi OLIa￿ed peo￿0. h parbcular prNdding granis lowards cour8es In18shion lordisatled people, p8rb'cularfyforalds 01gdlu8trnènls lo Impr￿ 4ccesslblllW, Y￿ldIng gr8ni8 iowards cout888 In xeoi$lLq8 dolhlrtg 8nd f8$hionfor by d569b￿d In &ddilion ML￿leS m8y be av8ilabl8101'. Jch Snslliub"on8who can a8I81 th& p￿￿0￿ of9rants lu hc41thys, fOrnam￿l￿83b1gd 8NJ th•lr ¢ar•M. Such 0184bknd pwple r•S￿1r9 n the South Yoik$hSrn area. Remaining M￿1&¥ in e8th ye8rwhieh aro notaddod bscl Intoeawt81' rnaybo disth"buled lo.. klolabSNty orw0￿￿￿ House, RO￿￿￿ Road, Harlow, Essex, CM195PZ, Registered Charity Nunl)er299745, Qr Carwr R4seai¢h 012 Redman Place. Lond￿ E20 1JQ e￿ moievalid 8pplicalions a￿ ieceiYe¢ witNn 8 ye8rlhan mori93 avallab1e1h￿ th8 8pklications b& rbnked In thelolrMlng ordBr. any mull￿ve8r tunding pr8ViOUsly agr8ed uruenl Med dalèof applica￿0Th$ wllhln the ml8vanl yo Page 2 The Elizabeth Nicola Hirnt Charitable Trust ort of the Trust•e6 tember 2023 to 30 Se For The Period 11 Se tember 2024 OBJECMVES ANDACTMTIES People ￿7th disablityes wll bs èligi￿e provided thèy hava a Chi￿1¢ heallh corvJil¥)n or th58bility expècted tolasl alkasl slx monihs. The INS￿&$WIll wulre dlh6r pioolda dl$a￿1btY bonefflof mad1￿ avld8nco, # The IN81988 do wl exp¢¢l to provido gr8nts to uNlqr 18 y98r olds 85 &thool¥ alt98dy rKgivg contrpt govoMw￿nl lorelildren spada18duc8Uon need5 ' Th6 TfU8166& alffl to k06p Iho c4pil& Sum alhasl to I￿￿U1VIenl amuntln real lem6 on Inil2J bequest. #D8finlUon rrfdlsatlllty. thi Equ811ty Actr2010 A p￿D is wjnled a$ dlsabled under lh8 Eql￿l1ty Acl 201011 they havo a physkal LY rneDI81 ￿p￿￿nent Ihal h88 8'$L*8tantyaf and Deg8ll¥e effKI on thelr abilty to do n￿rnal dwly¥b'vib'95. kn ex¢èplknn lo Ihisls a person sevgr8 disfpuremonl. Th8 Act alw prOV￿e$ pmieclon lor non4$8b￿d Peop￿ who subjcded to dkecl discilnNn&tion 01 harassmenl ol thdi )58Dci8llon ¥Mth 8 disaw pergon. Th8 Act mrn.. sènsory Smpairmenis, such as those affecuw ￿9hIty mpaiimnig wllh nuclu&Una Dr rbcurlng ell8cls Such as rheumatrld 8dhri118, rnylsic en¢ophdlll$ IMEI, c￿￿1¢ lallgw synthorne ICFSI, fibiornyilEig. depression 8pllepBy progr855lv8, such as molornourone dlsea38, Tr￿cUlar dystrophy, 8nd forms oldemenll8 8uio.Immun8 C￿dI￿On8 such 8$ sysi£mlc ILVUS I￿hOMato$hS ISLE) oigan speciflc, Includlro respliatory condlu￿8, 9uch as asLhma. and cardbv88cLlardl86a8eB, Indudlw Ihron*oslJ, 81roke and he￿ dl89 d&velopmgntal, sucth 8$ gull¥liG ywtrum Lllthers IASDI, dyBleNia and dyswaxifj mentsi h¢o1th ￿d￿li￿8 ¥ymptthn8 luth 88 inX￿ty. low mood, aiLqck$, phc4)181, or unsfv8rnd pgrc4pUon8', oBllng dl$ord•rn', èIFdaraffeclv d$oidets', obsessl¥e compLlslve disorders,. peisonglity d￿orders,, FQSt ￿M4￿C stiesj disuder, and some 88ll*armlng b8ha¥loui produced by injurylo the tdy, including lo the ￿ain Howev8F, the ABI18lk8 a￿Ul,re￿SOnBb10 8dlv$lrKnls'. whkh may Ilmil the amunt of thjnty r8quired10 b• 8wII orlhè scy of 8dlusim•nt8. Th• urfeisLqndng ol whal may te ￿aSonab￿ loi dillerenl enlibes or diffarenl buslnessas iheielora boan darified Ihiough case law bul il is nol absolute. So, lor exanwle, a perBon wtth unlque com￿8X heatth ￿dIllOns Ihal roqulr• rowd tho dc¢k Core vill hawj lundlry to support Ih)g• neodB al horne or In e Cfjfe 58iUng bul wlll rurely find Jl p&Jlc Ihe level olsupFo1 al Same degree. http¥JlwvM.leglJl4ts'on.gov.ukJukpgpJ20101151¢ml¢nl$ ACHIEVEMENTS AND PERFORMANCE Thly Is tho firnl year ol the new tru81, and Ihe estate WBS still In probate. ThB rnoni85 ￿re Tdea58d In sm818mJnt$ and thè Iruii ¥Yas sll wgttlng lor meh of tho m¢n8ylo b8 lo ￿ Iransfvrrld. Thè bu$i88s not ha￿ wtyjgh Incom& thè naw Invèslmènls lo mak8 gny gfanis In its firslyear. Tthrewero ￿di￿onall￿gal and Inandfjl co81s In th8 firslyearloi 8etllro up tho new th8dty. The trust alm8 to maintain thg v?lue ol the c8pll* in real temts And dsbuw IFW remknder ol e8pIt81 onc8 •xpan8os ¥e pald. The trustees have mth IAlkql cont4cl with su118￿# charitiès in Sothh Yothshlr6. Tho tru￿ reL¥l￿d Lword¥enty ap￿￿￿tIonS In Iislyear but none metth& crflerba es 8&toul h Ihe IruBI deed 8nd Istrab"on. A¢hl•v•ments a911n￿ otyle¢UveB $Ot Achi8Yefflenls in thg first yg8rw9rg to appoinl the Tr￿8181￿al advi$ry$ 8nd IndÈpèndènl Financial Advisor, to agm in¥gslm6nl wlicy, ID Sutxnll 11 legal foimB lo Ihe Charity CL*mmY65ion in orderlo regi5terthg Trust bs a thariiy, to 4r8e thè Grant m8knny ￿11¢y, Its let ￿)lhe remalrxlerdihe pdlce8 and 8y8terns, Th were achl8vod. Fyndral$lThg 4clhfhl•¥ The TTusl&es Wt IunLtrgb8e. The TNslwa5 sel up to &mlnlsterthe We￿IrOM** estate ofms EIIz8beth NicoLg Hlr8L Investment PErfomiArbte The IIuBIo8s agrÈ8d a prDvlslonal relum of 8% on Investments VAlh the IFA Th1$ ha$ beÈn rnèi. Onts thè 8nb.ra baqu6s( •xpeded to bo at16asl £2m. hos been tran51erred 8nd inve51ed the trusle&s will actively seek Suitable beneficiarie5. kn remainiro monies each yeor from ihe piofits Ylll be alloca￿j lo Ms HirBVs nanxd sldu9ry chariles. Note thai th8 Tw5188$ W9rg aPfKAnted in lin8wth ￿8twIll 188t8ff*nl of Ms ElkabBth Ni￿# HItSI 8nd t8knng in1ogcwjnth6rrn￿ndUMO1w￿hes. Page 3 The Ellzabeth Nlcola Hlrst Charltable Trus ort of th¢ Tru$to9s lember 2023 to 30 Se ForTh P rlod 11 Se tem r 2024 FINANCLAL REVIEW Flnin¢kg1 po$illon Incm from don81ion$ And W88È2,555,325. 0th8rlncom8. Irt￿d￿g In¢om8from oihar Incomlng rtsouictt, was £34,342 gI￿ng total Ir￿￿8 fortr￿ yew of ,589,667. There was a nelgaln on Invoslments 01É161,581. Total exP￿d1￿j18fDrthO yearw88 £22,915, givlro netlncomo of Q,728.333. Prlnclpal lundlng 1our¢•i The Iiustwas sel up in line vilh th8 b8ryJesl Irom Ms EIiz8b8th Nicola Hir51. In lulure yea15 h811 of th8 inv85trnenl Inromfr will be used to rnaints￿ the Ca￿￿1 In roal 19mi¥whil& the rejl, afterdeducbng 8XP8nses, wlll be dlsbursed in lin8 wilh th& TnJ?l Deed. Inveitmtnt poll¢y Ind obh¢tlv•s Thg trustees am lo Invesl in Ine vAth ETrwiorwtal, sockql and gDveman¢8 tsclors. ￿re th15 WOU￿ nol $lgnlflcanly tho vglu¢ rt profits from tha Inveslm8nls. The disr181ionw fund managern ¥vw•8dvis•d tsl lh￿ pollcy. The maln risk Is uncert8inty Jboul in￿￿nen1 Incfft. Th? trustOeB rn08t rewlddy V￿th our Indepndénl FIn•ne￿I Adtri￿r lo rnv18w h￿￿rg3 gnd make ded6ton9 4boul Iho In¥e8tmeni ￿lCy. r¢•••rY•• pollry Ilwas agieott lthi Ihe Trwie&8 ShO￿d alm ¢0 malrtaln the cByLryl al the16vd ol lh8 Wuest, kn real tsrms. Add￿.9￿1 profits wll ￿ mad• aval￿￿0 toolthrs& kn lh6 wtth Ihe chadly's obi8rbves, Th• tru5t••È ho￿ 8 8m8118mDunl ￿ rnoneylor8nl1d￿l0d bllj, al other Incomow8s Inv86tod. Tot￿lU￿￿ ¢81118d fcrtvard arn E2,728,333 which aro all unn￿￿e￿d. FUTURE PLANS Irusl iims to makntsln lh& valw ol the capllal In Ral 18ims and dlsbur80 the iernlnd8r of the c8pi181 once ex￿n$85 ar• pald. Tho Iiu$le6s hav• mad8 knIUal ¢Ml8cI with 8uitst4e charlb'es in Swth Yoth8hire. 8TRUCTVRE. GOVERNANCE AND hJANAGEMENT Govgrnlng dwwmonl The charity is contrdled by Ite pyemlng doGumgnl, ? d99d of IwJld8ted 11 S¥tfjrnbei 2023 an urdworp0mt￿ charily. Chirfty ¢onilttullon Th& charlty15 an u￿nCorporated chBrfi8ble JJ8oclBIIw. R•cwuhm•nl8nd Bppolnlmentol n•wtnJ¥twi Thb inili81 Irusi888 4Ygr8 Hppolnl$d by th8 solicilorn deollng ¥Yith thè estslo h consumatbn wllh the new sdldtcr vtho W8B ith11411y appoirfed to managè thè IMnil•r from pnbaie to ihe Tiusl, The Trust cutyenlly has four Iruslees, vtho sfrrve for lo Ihigo yeaiB. Addillonal InJBlges will h 8Fwnl8d by the trusteès In C￿sUItatIOn ¥vifh Iho lfrgal ad¥boi. AJI InJBtsgJ uTrJewnl ID ch8ck8, eboapplied for D88 cwthlc*gs. InductSon and lrnlnlng oln•w Iruslq•i During Ihe fitsl yearTiusle8$ were lakln Ihrojgh IM InYe8knxnl pwss and devekylw an Inv88thwnl by tho I￿nd￿nI FInart¢￿I Advlw. Newtru3te06 have 8¢c838 to 8 Sha￿d dlrem ol wllcy document5 and Chailty com￿s￿On guldanco. Thegranl m8Wng crfloila Indude inlmtion about how to assess Ilsabilily In line wlth Lhe TiuBt'8 OlueB. Thesè ¥Ygi¥thvèloF4d by Mg W1115oms who has gxtansfvg experierKA gnd118lnlng kn dsability is$ug8 and polide$, and 89r8¥d by 11 Irusle95. Key m•nagwnent remUnfjr4￿Qrt Ther& 18 rrfipay n0rrel￿n0ratitsTr forkeym4nagemenl Fer9￿ne4. Rtsl m•n•gement The truslegs have a to Idgrilify and revl6w U* risk8 lo whi¢h ltr¢ ¢hwty 1$ expwd 8ThJ lo insur6 Appropilate c￿tr￿S a￿ kn p￿ce to Provide ieasonaN8 ssuron¢e agan$lfrBud and error. TRUSTEEV RESPON3161LITY STATEMENT The irusl08s we rgsponsiblg for prepadng the Report of the Trusts86 t￿ fina￿￿$1 staiemènts In 8c£tsdanctwith 8OIc8ble law unl￿ Krffjdom Accounlln9 S18ndards IUni18d knngdom Go￿l8UY Acc8pied AccountirvJ Praclc81. Page 4 Tlio lizalietli Nlcol Cliaritcible TriJ¥t rst >rt of the Trustr>ey tombor 2023 to JO So or rlod 11 bor 2024 TRLISTEFS RESP01451UILIIY STATEMENT. ¢vnllnu¢d IIM 4ViiiJh'o 10 ith1￿11￿$ Iiigi[II￿ ¢llhl W￿<￿9, Ilio CliJiAh)¥ Ad Wl I, Chdrity (Acuunls RoM91 Reg￿81th5 2CLQ ar¥J Iho W￿lS1onE0[ Ih ITu$l dÈ8d ￿K￿k}n d 105W(x)$, I￿￿j1￿ 411d 0Xw￿l1￿1ll, of Ch￿ty lor IhAI poll￿. In yoparing Ilioso IinarKil 3l*iiemenls, Iho IIu8le&5 8rp tknew41￿ rn01m￿S ￿ piiiwles Iii Ihe Lharlly SORP.. 91aifywWl*r,M)Ir.3th $1.wdafd4 havo IL11(1￿, 9ubi8cl lo ma•iial L*pciilures dis￿0$￿￿ atKJ oxrlJinc41 in Iho fInarK1￿ ilaLemonis,' Il',iJS*ID Ihei,nsrn'kY $liiièmtYiis oil (x)n¢ern bA&IS illl'it)81 il 14 Inappropri￿le to pwumo Ihallhe charity vim b￿nI1￿u• In thsine88 Th)1',1151wi.*v lor k￿,plnq pryr munliiii wids ¢iascbso viilh feownobfv al any Ilrne It￿ Ilnartw pwillN ol Iho thartly arxl 10 2W8 afid Iho prwisloiits ol Iw81 ¢knJ Tw rf*gwitsiblo safegu8idin¥111¥ &4$01s of tharAy ond lty18kliw Ioayona￿9 sl(4)8 lor the provonlwjn oryj ￿&￿tIl0￿ tsl Iraud I S4.2/<4 othiol Iho iwid¢ltswEtQo8 on......,.. ,Ind sIGn￿ on ils belidl by.. Pago 5 he Inde trndent Auditors to the Trustees of The Ellzab8th Nlcola Hlrst Charltable Trust Oplnlon We hav8 8udit8d lh8 fin￿¢la1 sl8lem8nls of The Elizabeth Nicda Hlrsl charl￿ble Trust lthe'tharlty'l for the pth(O e￿e￿ 30 Sepi8mb8r 2024 which wrpr￿8 the Stslomgnl of Financlal Actlvibe5. 8818nc¢ Sheat, the ¢g$h Flow st818r￿n1 8nd noi0$ lo the fln8nry81 slalemgnl3, In¢￿ding a 3umm8ry of s￿n￿c0n1 tK)liues, Thè financial rerrt)rtlng Iiampwork that ha5 been apF4i8d in w8pwElion 15 applicabl& law ond United Acwjnting Starthrds lihited Kingdom GenorallyAccgpted Accounbng Practice). In ovi oplnion ￿ finanael 618tements'. give & liuo fair w8w ol th8 sl818 ol chwity5 8ffBir5 88 al 3D Sep18rnb8r 2024 and of It8 incomkng re8ourcè8 8nd 8pplkAts'on ol r88ources, Ihe p￿r en ended., have been prO￿ty piepaiEd In aC￿ljanCe wlth Unlied Klrngd￿ Generally Accepted AcctyJnlSng Pr9d1￿,, a bave boen prepared in 8ccordan¢evilh the requirernents olth& ChailtsesAcl 2011. Bas15 foropSnlon We CO￿U¢led Iwrwjdil in P•xoidan(* wlth Iniemauonal Sta￿ards ￿ Audlllng IUKI IISAS IUKII ap￿le3t41 law. Our Msponslbiiiiles under those stwoaith are lunhei descnbed In Al￿10￿$, IOSFth$ibi1￿I&S toi Ihg audit ol the financial slal&nenis section of our rep)rL We ai6 i￿ePendent of thè chadty in accordance with the e￿ical requirem8nlB that are relovanl lo our audit ol finanaa slaloments In UK, Including the FRC'S Elhical SLqndarO, we hav8 fulfilled cw olthr ethic811&5pon￿bth.tlts in accordance wilh I￿￿se r8qulr9menlB. W8 bollevg thal Ihe audil ovKlen¢o we ha¥¢ obL8lnod 8ufficbenl 8nd BpwoprHi8 to wotride 8 b8S lor1￿rapiDl0Tr, CoTrcluiloni Mlillno lo golTrg concqm In 8udiUng tha financlal siaiemenls, we havo eoKlud6d that tho tru$tO¢8' w ¢1 tha wlng eon¢wn b9¥18 ola¢¢ounllng In tho pitwglon of1￿ fln9nd￿ st818rn6nt8 19 8pwopri&t&, Based on Ihg work we have p8rformed, ￿ h8ve n¢1 idenlthed gny matedll uncerfalnlle8 to evenls ¢r ¢ondibons Ih81, Indivldually or collocuvely, m8y ca$1 slgnlfflcanl doubl on Lhe thadty'6 &illily to conunuo as & ooing concern for 8 per￿d ol gt leo81 ￿1¥0 m￿1￿8 Irorn when the fin&ndd stslernants 819 au￿1$ed IBSUO. Chjr rBsponsibllrtle8 8nd the r￿POnSibl11b￿s of tho InJ&leg5 with iejpecl Io gcing ccncem arfr described in the relgyanl 8Kb'ons ollhij report. Olhfrr Inlorniitlon The t￿￿1088 respMs1￿O loi the olher information. The other InbM￿￿on ecth￿Se$ Inlonn8Uon induded In the knnual Roport, othfri than the slèlemfrnls 8Dd our Report ol the I￿ependent Audllor9 Iher80n, ¢)Jr oplnion on the fin8no81 $taltrmBnls d¢ei not ¢ovgr the ¢thw inlormylknn ¥nd, 9x¢ept to Ihg gil•nloth¥rvis1 ¢xpllriVy Jt4ied In OLY ro￿rt, wè th) wt exyw$ any fomolassurnnc6 condusion thaieon. In cornnectlon ¥Ath our audll ol Lh& IDanclal slal8rnonL8, ¢yJr 1fr5ponslblltty Is to read the other InfoMallon and. In dolw so, ￿SId￿r vhglher tho Qtf¢r infoimNlbn Is lèH81ty IncM$i$tèni the flnar￿￿oI $1119m8nls ￿ our obtsined In Ihe 8udll or olh&wse a￿eBr5 to be rn8l8ri￿lY MI#s￿led, 11 su¢h rn81erial incon5181oncie$ or appèrenl maleri* mlsst8temenis, ￿ Ire requlied to d￿errrI￿a whether IhlB gives ri88 10 8 maieiial mi5$t8tèm8ni In Ihè I￿and 5talem6nls Ihemselveg, W, based on tha work wa hav8 parf0m1￿, w• cothi IhAI Ih•m18 & Matarf￿ M￿$￿￿men1 of th1$ other Intr)rmaNrrt), We 8r6 roqiirnd ID port Ih8118cI, Wè hgve nolhlng lo repoil In Ihls rega￿, MitterJ on whl¢h wo •r• Mqulmd to report by qxceP￿#￿ We have noNng to report In ie6p8cI ol Ihe fol￿ni mali&rs where Ik4 Ch8rfI68 (Accounts aThJ Rep￿ts) Regulatkn$ 2fM)8 req￿re8 UB ID report lo y¢JJ11, In our opinknn,. the Infcrfflabw given In the Report of the TnJ8tees Is IrKAn51sierf In any rnatert81 rnspectvllh the flnan¢l81 slolements.. Qr Suffici￿1 accounlng recoid8 havg not b88n k8pL th8 fn8nci81 slH18ff*n15 ar8 not in 8greem8nt with 8ttJJnting tecord5 and r8tums,' we have nolr8C6hd all iho inlomalkn and exp18ndli￿# wo requiro fNoJr8udil. R•$p¢nslblllll¢i oltw6l*•B A8 explained more lully in Ihe Tiuslees, Respon61blille$ St8tement, Ike Iru8lee& a￿ IwonsiNe forthe prepaMlSrm of the f￿￿n¢￿￿ $talthThnl$ whith glve 8 wd lair viow, and IN such inleinl conlrol a$ trust￿ d818￿nin9 18 ￿CesSary lo onablg Lhe Preparati¢￿ of fin8Naal stai*nènl8 thai ai8 Ir8è fi￿￿ ma￿nI1 fflissiat8m8DI, wh81herdu8 to IraLKlorerror. In prppadng the ffin8nci81 stslpmen15, Iru51ee5 arE fE5wn$S￿e fDra55e555ng Ihe chathls abillty lo ronlnue as a wlng concern, di6¢108ing, 88 appllcable, rn8tter8 ielaled lo golng concein find wlng the going concom basis ol accounuw unless the trusiees eitherlnlend lo liquldale ihe chartly N to ￿88& operalknn8, 01 have no reaisb'¢ allernabve bullo do so. Page 6 Re ort of the Inde endent Audltors to tho Trust•e$ of The Elizab•th Nicola Hlrst Charltabla Trust Oui r•8pon8lbniii¢$l¢rth• audll olth•15nan¢lal $latem•n We have been 8ppoinled 8$ auditors wder s8cl￿n 144 of the Ch8ril88 Acl 2011 and report in awrdw¢¢ vlrfh t￿ A¢1 8nd rol¢vwl r¢guL4tions Ma￿ or h￿r￿J 8ff8cl th8r8undèi. Our obj'ectives are to obtain reasonablb assuian¢e at*￿1 wholhei the finan¢id stalemenls a$ a wMIo arè tree trom materf￿ mlsstslemenl, wtsther due io fra￿ error. and ID158U8 8 Re￿rt ol th8 Indep&nd8nl AudilDrs thal indud&s our opknion. R8asMatrA8 8s$urance IJ a hlgh levd of assurar￿8, bLrt is ml & guar8nl88 that an Budil (x)nducled In aC￿rdanCe with ISAS IUKI VMII always delect a Materi￿ rnis8tatemenl when il exist8. Mi58talefflenls can from fraud or error and are n$k18r8d wt8ri81 il, Indmduarny LY in Ihe aggr8g8t8, th8y could 18ason8Ny be fjxp8c￿ to influ8nce the £cononlc decis￿5 of u5916 iakBa ￿ the basA5 of these The extenl1owh￿￿ rMJrpr0¢8durei ore c4p8ble of detscbro irreg￿an￿8$, nduding fra￿ isdet8lknd belfAv'. Eryuiry of man8Q8m8nl around 8nd POtsnl81 Iltigsllon 8nd daSm$ frEud', R*¥￿irl minut85 01 mo8liw5 Qf thosè charged vilh goveinwce,. R8¥leMryry financlal sLq19monl d18do$ui96 to assess comrdiawA wllh llwicablo Lqw8 regu18b"oD8.' Pfrrforming 8udbt th ovgr lh8 n8k DI m￿a98M8n1o¥erride of controls, induding r8Vi0wof c85htrpJok Iran5acb'on5 and clheradjusbnonli for ppriyiig1gnè8$ ev8lu&iiffj Ihg bwlne$8 14t￿nall ol any $ignllcanitran$8Ction$ wtsldè tho nomal coursa olbuslno88. 88causo ol Inherent limilallon8 ol an audit, the￿ is a rf3k Ih81 we not delecl all irr8gulairti&3, Indudlw IhD8e1gadln9 lo ¥ mgterial ml$$Lqlem8nl In tha finandal 8tstem6nlB 01 ￿{￿-COMplI￿n¢0 vAth regul8llon. Thi8 I￿k I￿leaSe8 the that compliance vAlh H Lgw or r¢9u18b￿ l¥ removed Irorn the •von15 and traDS8clions reflKled in Ihe flngncl81 *olem¢nl$, 8¥ wo vllll bp le5¥ Ikely to bKome awaro ol kn¥lBnce8 of non-¢om￿O￿e, Tho IL%k L8 also grn&l8r r6g8rding ImgUla￿lle5 ocruttlw lo tral￿ mI￿r Ihan orni. a5 Iiaud Involv85 Inlenllonal concoamonl. lorgory, colusion, r￿n￿slOn or ml$ffjrye8eDlalknn. A furfhEr dèscdpuon of our rasp￿81b11tt￿S for ￿di1 ol Inancl81 S￿￿M•ntS Is loca￿d on ihè Flnandol Repo￿"￿ w8bBho al w.frc.oig,uklaudit0rnras￿￿b￿l1lI1S. Ths dèscriplkn Icrfftb part olour Riwt ollm I￿er￿denIAudItOrn, VM olour r•port This reporf is m8do solety lo t￿ th8riV¥ tN8lo88, 85 a body, In 8¢¢ord*ca P8rt 4 01 th8 Chaillles IAcc(NJni8 gnd R9porfsl Regulglons 2C()8, Our 8udll h88 been underfak8n so thalwe might Alale lo Iho charills Irusl088 ihosè m8tte15 we aro requlredlo slaiè lo I￿rn In an audllorn, report ar￿ ILK ￿ olhfri purpo80. To fullèsi eilenl pemimed bylow, we do nol8ttept 0188gume resw81kn11ty ID anymother Ihan Ihe chBrfty and chplV8 tru8lee8 88 a bJdy. forouraLLII loi this report, or lorlhfr oplnh)n8 we h8ve fcn16d. 'n9S￿0d Alknits Llmiled, Statulory Audttor Chartered Accowtsniq Skllngs Court L8keslde DMca5ter South Yorkshlr8 DN4 5NU Dale.. ?0? Pago 7 ho Elizabeth Nicola Charltablo Trust Irs Statement of Flnanclal Actlvltlos F r The Perlod 11 Se tember 2023 to 30 S tember 2024 Unffjslrlcted fund INCOMEAND ENDOWMENTS FROM C%ThlioDB Prt 2.555,325 Invtglmentiro)m8 34,342 T¢tsl 2.589,667 EXPENDITURE ON RAi$ing I￿￿$ 7,878 15,037 Totsl 22,915 Net gains on Inve8trn8nl3 161,$81 NET INCOME 2,728,333 TOTAL FUNDS CARRED FORWARO 2,728,333 Thè notes form part of these financiol stotemenls Poge 8 ThoE 17.Ibtlli Ni¢olLI Baltinr.o Shp.￿1 tainhor 2024 Unroslricted fund t*)185 XEOASSETS Iwesinion19 816,611 CURREl￿A$sETS Cash olbw 1,117.(Ki) 1,917,L CREThfoRS ArwLni. I￿[1￿ ￿ar 1.S.J411 NET cVRREI￿ ASSETS 1,911.6 TOTAL ASSETS LEYS CURRE14T LI￿lLInES 2.128,3XI NEf ASSETS 2.728,M3 FUNDS .,Ii&lwJ lunda 2,72&311 TOTAL FUNDS 2,71333 )2S Tho finaDd* ¥lalgmBrtB ¥¥eto ¥1)fDved I,,y1￿* BoaFddTru$lw8 aThl oulhwhed lof ￿....... . A D TL.dL.. TIu51vg rvjles fomi part of Ihtse lin•ncial stalamenls Poge 9 Eliiaboth Nicola Hir¥ Charltable Trust Cash Flow Statement For The Perlod 11 Se tember 2023 to 30 Se tember 2024 Cuh flm fmm op•rollng •dvitw• Cash 9gnw81od from OF4f8lons 1,737,751 Notca¥h byopwalw 1,737,751 Ci¥h flo￿ from Inviillng a¢tfvlU•• fchdsè olfixad asset Invo$trnenls S81e olfixéd as$el Inwlmfyn lllter881 iec8fv6d 11.S)2,1461 847,1￿3 24,342 Nel cash (Lwd Invprovkled ty Inv8611ng 1620.7511 Chang• In ¢•ih •nd ¢Mh •qulv•l•nt• In th• r•portlng p•rlod C•ih •nd ¢&•h •qufvilonts itth• b•glnnln9 olth• r•portlng p•rlod 1,117. lh •nd Mih aqu￿41•nt• ￿ th• •nd ollh 1•pO￿￿9 p•ih)d 1,117.OOQ Th8 notes fom part of these flnanclal 8talemenl8 Page 10 Th• Elizabvth Nlcola Hlrst Charitable Trust Notes to the Cash Flow Statement For The Perlod 11 S& tem er 2023 to 30 Se temb¢r 202 RECON¢ILIAnON OF NET INCOPIE TO NET CASH FLOWFRoMopeRATIPIG ACTMnES N4tln¢om• Iwth• rnportlng p•rfod p¢rlh•Stsl•m•nt of FlnandBI Athltt•sl Adlualm8nts lor.. Inlwasi roceived ins on invostmwts IncroaB& in dobt018 Inu8a8e in ci8dttois 2,n8,333 134,3421 1161,5811 18CQ,OMI 5,341 Not¢uh pra￿dId by•)p•rniIoMI 1,737,751 ANALYSIS OF CHANGES IN NET FUNDS At 11.9.23 Cash flow AI 30.9.24 N•twh Cash 81 bank 1.117.ofK) 1,117,0 f.117,LbXI To 1,117,fpXI 1,117,000 Thè notes form part of these fingnclal stalemanls Page 11 The Elizabeth Nlcola Hirst Charitable Trusl Not9$ to the Flnanclal Statements htr Porlod 11 Se lomber 2023 to 30 S¢ t&m r202 ACCOUNTING POLICIES Ba818 of prep8Ang tho flnonclil slatem•hts Thè financial 51atemefjls of the ¢harily, which is a public ben&fil entity under FFIS1D2, hav& beÉn piepared In 8ccordgnc8 vAth the Chwib'es SORP IFRS 1021'A¢coun)ng And Reporting by Charilles.. Statement ol R8commend8d Praclice 8roliczble lo chaiitie5 wepanng Ihwr acixunls in accofdancewilh tha Finoncial Reprtiro $18ndard ap￿le&blo In th& UK 8nd Ropublic ol Ireland IFRS 1021 loffectwe 1 janu￿ 20191.. Finan￿￿ Standard 102 'The', Finaro81 RBFxKb'ng St8ndwd appllcAbl6 In th8 UK and Rgpublic of and the Ch8nli8s Act 2011. TD& flnanclal 8L8lements have Oegn prepared under Ihe hlslorical cost ¢¢nvenUon. wllh the excepllon ol￿Ves￿l￿ntS wh1(* aielncluded al rna￿￿1 value, 85 rrndified by th8 revaluation ofcertain assels. Thè cM$klèi thai thère are M mèlèrtal unt4r1alnll•$aboth ihèTrusl's at411ty1o t￿￿nU64$ a gokng concem. In¢0 All incom13 rec4gni￿ in the Stslomonl of Financial Acti￿tiO5 once lth charity has entiuemenl to trefuDd8,11 l¥ probgbl8 that I￿ Incom0￿ll b8 ro￿1¥0￿ and the 8rnowI can bo ￿￿aSured r£llaL4y, Logaci8$ ai¢ Indud&d In th& Stsi8m8nl ol FI￿nCIBl Ac1￿119￿ whgn fBceipI i¥ wobabk, th81 is, whgn thw h#5 ￿eTh grant ol probate, the execut￿5 havo estsbhihèd thai th8r8 Ar8 SUff￿1•nI 159èt8 In Ihl eslèlè 8nd Any condllkns ￿tA¢had to the legocy are ell￿r ¥wknln ¢ontml ol tho chalky ￿ hav& been mel, Expendllur• Lkgbllili&s 318 ro¢o9nised axpendliurg p8 won a¥ therols a18yl orconstructiva Obl￿a￿on committlw tha charity to that exp0￿1￿1#,11 Is prob0￿￿ that a Iian5101 of BCOnDmk bonofl15 VAII bè Nqulrud In $OlU•menl and Iho amount ol tho obllgalion can bo mfrasured 1oliat4y, ExpfrndSlw8 Is a￿0V￿led lor on èn 8ccrual$ basls and has been dasslli6d undef haadhgs that aggregale dl co$1 iolalod lo the calegory. Wh818 cannol ￿ dlf8¢lly Aimbuied lo paiUcul81 headlnp they havo bo8n allocated ¢0 eclvll86 on a bae16 con818lenlwith th& u8?of MouK•¥. Taxill¢n The (harity is èxÈmpl Iiom lax on its tharitable ac1￿1101. Fund aC¢oUn￿n9 Unre¥thcied fund3 bg used In 3￿¢¥￿tt¢0 ththa c*8rftabl? 01g¢tlv•$ 81 thè dI￿rItIOn 01thglnJst888, R￿IdCted lund8 can ￿lY bo used lu part￿￿ar 198kn"clo0 purkw&s vithin the Obl￿ts ol the ¢N8rtly. RF8trk￿thx 8rfst whBn Spoc￿VId by the donor or when lundB are rnlsed loi parUpJI8rrestrlc￿d purpoJ•J. Furlh8roxF48n81kn ¢lth¢ ngtuio and pUlp￿ty ol aa¢hIU￿ 1$ i￿lUd￿ In th¢ note8 tolM fln8￿￿1 itglomonts. Inv•ilmenti F￿ad 855el inve8tmgrf¥ are included ID the fin8ncl81 st4ternentF alfali VAIL* I¢y8n matht valL418nd gross hveslmenl incomo IJ InC￿ded OTr 8 iecelveble ba518. R&a118ed ond uDr8lised gain5 8nd105s85 on Invesim8nt8 and flxad a$$èts ar• discbs£d sèpar8t8ly In th& 8ccoJnls. gain8 or losses are lak•n lo st8￿ment offin8Ma￿ 4¢1iviliès as t￿Y$￿$•. Flnancial In•tr¥mgnts The ¢hJrily wly holdB b8slcfln8rKI* In51Nrnents 88 detred ty FRS102. Tr finandal 8s68ts Inancial 1lablllb.os of thg charny and ihfrlr rneosuremenl basls ai8 as lollNJ'. Fin8NJ8185sets - iradg and other debtorn are b88k financid In8inJrnents and are debt Inslrurn￿ts rnea3uied 81 amortI¥￿ ￿51. Prepbm arg Ml finanda knslrumenls. Cash 81 bank-ls cl8$$1figd 85 ¥ b95K financl21 instNm8nl andls ffje8¥u￿ 91 IA(*Vg1w. Finandl li8￿￿18$ lrndg ¢￿dItorS. accruals and oihei ￿01t01$ are financial Instruments. are ff¢85uretJ at 8rnortis8d c051. T8xaMon gnd socbal secwity ere nol I￿1￿ed ID Iinanclal inslrumgn15 dlsc105ure dgfiniuon. Deferred Income b nol d8ern9d to b8 8 fin8nclal lia￿lIty, as the cash selllefflenl h8s èlready 18k8n place 8nd there is an oblipty'on io delivw 8ttvka8 r4ther than rA8h or 8mlh8r finarKial in$trumenl. Publlc tenefft entity COnce8￿0￿8ry arè IniU8lly r8cwlg8d al th8 8mounl iècèSv8d thè carryiro valua is adiusled lo rofleclanyaccNed inleiesl, Page 12 continued... The Elizabeth Nicola Hirst Charitable Trust Notes to the Finan¢lal Statements - continued For Thtr Period 11 Se lember 2023 to 30 Se tember 2024 DONATIONS AND LEGACIES 2,$55,3 INVESTMENT INCOME Inve$lm8nldoposb' inter￿¢ lrtome fvom Ilst6d in¥eslm6nts 16,007 18,935 34,342 KALIING FUNDS I￿￿$tMont mAn•g•rn•nl¢o•ti Portfc4k) man8oèmanl 7A78 SVPPORT COST8 Governan ¢osls Other Total8 Other rosouices expended 9,697 5,340 15,037 AUDITOR8, REMUNERAnoN FeeB payatle lo the chaiWB awllcn forthe fjudllollhe thairf18 flnandl stslThnt8 Audllorj, r8mweralkJTh lornon wjdl work 1,440 Tot8118•s p8y8bk• 5,YO TRUSTEES, REMUNERATION AND BENEFThS Tharewere no Iw81869' rarnuner8llon ty0t￿r bonefiwlorlhg Pgri¢d 0Th19d 30 Septern¢•i 2024. Tr￿8￿￿, •xp•tho•s Thgrg w9tq no truste9¥' 0xpBn￿$ pald forthg perf￿j fnded 30 Seplernhr2024. FIXED ASSET INVESTMENTS Listed Investments ARKEf VALVE Addiliom DIspc6￿3 Re¥auation¥ I.￿2,146 1688,9781 3,506 AI 30 Septernbei 2024 816.674 NET BOOKVALUE At 30 S8plemtw 2024 816.614 Thwe wgre no lnvesbm￿I asseL8 outsldg the UK. Page 13 conlinved... The Elizabeth Nlcola Hlrst Charitable Trust Notes to the Flnanc5al Statoments- ¢ontlnu?d For The Perlod 11 Se tember 2023 to 30 Se tember 2024 FIXEDASSET INvESTMENTs.￿n￿nUld The inveslm6nl portlc4'0 1$ managed ￿ behaWof the ¢ornpany by lth Welth Man*Jemenl Grow, Al 30 S6Pt¢Tr*8r2024, 811 of the p%Ur4io *35 inves18d Il$18d inve8lmenL8, T￿ galn on invgslnwnl 08s61s In tho SOFA of È1fj1,561 IB up of a ieatlsed galn of £158.075 on InvesbTrnts sdd in th6 y48raTht in unma￿Sed galn 01£3,506 du8 to 8n increase In the v8lw ollnveslmenls hBld al ye3r8￿. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR PrepJyTnen18 and Ic¢n￿d incom6 Boo,0 10, CREOJTORS.. AMOLINTS FALLING DUE WFTHIY ONE YEAR OthfricreLI 5.341 MOVEMENT IN FUNDS Nel movgmènt In funds At 30.9.24 Unmstrf¢t•d lund• Gonoral fund 2,728,333 2,728,333 TOTAL FUNDS 2,728,333 2,728,333 Nel rnovemenl In Iwds, I￿￿dad In a￿va ar8 81 folkny.. Incomlng re8ourc88 Re80urc88 expend&d Gains and 108886 Movemgnl In funds Um#Aci•d lund• G8nwal fund 2,$89.6e7 161,581 2,728,3 TOTAL FUND8 2,589,887 122,9151 181,581 2,72B,333 12. RELATED PARTY DISCLOSURES Thorewore no relatsd ￿rtY trarthcUDn$ lorthe perlDd ¢ThJ¢d 30 Sgpigmber2024. 13. ULTIIATE CONTROLLING PARTY Thg ch￿ty 18 ￿tIMatelY ￿tr￿led by Its trustees. No indiwidu81 fvu5tO8 h88 control, Page 14 REG18TERED CHARITYNUMBER.. 12D6123 on 2310 Th• Ellzab•th Nko14 Hlrn WkJtt8 Umll8d, Stalubry Audit Chirterod Ae¢Mtanli Sklngs C Laka￿d9 Ocff8Bl8r South Yothshlrg DN4 5NU The Elizabeth Nlcola HI Contentg of the Flnanclal Statements For Thè Period 11 So tember 2023 to 30 S& lambor 2024 Pig• hren¢• •ndAdmlntstrJUvq D•tslli R•port olth• Trusto•• 2 ¢0 5 R•port of Ihe Ind•p•nd•nlAudMo 6 to 7 8til•rnintol Flnancl•l kdvlll•• Balan¢e 8hfr•t Cuh Flow Slat•mMI 10 NotMtoth• Cmh Flow Slth•Dt N¢tM lo th• FIn•nc￿l 8t•t•m•nt• 12 to 14 The Elizabeth Nicola Hirst Charlt8ble Trust Rofernncè and Admlnl8tratfvè Dotalls For The Perlod 11 Se tember 2023 10 30 Se tember 2024 TRUSTEES A D Tqab I￿pr￿n1¢d 11.9.20231 P Willkgms (appointed 11.9.20231 R V Gnffths {apwint￿ 11.9,20231 P Lundy lapwlntfrd 1.8,20251 PRINCIPAL ADDRess elo OXW & thw¥d Sdlc41Ns LLP Unll K The P￿Trt, BrndrrwBh B￿neSs Paik Roth8rham 8fj01BP REGISTERED CFiARITY NUMBER 1206123 AUDifoR8 rg5wwd Limli8d, s￿b￿￿AUd￿or Chwtsred AecoMt8nls Sldlng8 C￿rt Lako6ld8 Donc06t Souih Yth8hir• DN4 SNU SQLICITQRS Oxley 8 Cthywd Sdic41or8 LLP Unll K T￿ Polnl Bradmarnh BusSnai8 Park Rothoihgm Soulh Ycrkshlre S801BP AOIASERS Thè Waallh MBn8G4mèrl Group LLP I Parkviow Ctyjrt Sl, Pau16 Ro8d Shlpley BD18 JDZ Page I The Elizabeth Nicola Hirst Charltabl8 Trust Re For The Perlod 11 Se ort of the Tru$te•s tember 2023 to 30 Se lember 2024 The truslees present rewrt the financll stalements of the charrty loi the period 11 September 202310 30 Seplorn￿r 2024. The Iru51ees have Adtytd th8 rMovlsbn$ ol Accojnting end Repo￿n￿ by char￿¢8.. Sla18monl of Re¢omm8nd8d PiactSc8 8pplkat48 lo charlbes pr8p4ring th61r 8c£owts In acc(thnce with Fina￿181 Rewjthg Stsndth 8PpI￿￿e in thè UK and Republicol lida￿ IFRS 1021 leffeeiive 1 Jamary 20191. The Ellzabeth NIcL4a H￿1 Charrta￿ Trust Was $61 up In 2023 to carry out tsslèmDntary ￿$ho8 of Ms Hlrs¢ to dlsbLYSD gr￿t6 thrAJgh v8iknu8 charfUg5 *r tr b8￿fil oldisabled peoplg, primarly those liviry in Soth York8hire. OBJECTIVES AND ACTIVlnES Oblecilvei and alm• The charitys ot4ecbve is ￿ piovlde income lio be distrlbuled on a regular ￿.$} and capifl al tho ¢lscrelon al the tru$t¢e5, to euch ¢h8rity las 5hg11 have tho rneanl￿ ol ￿ Charlllos Act20111 th81 piovlde for.. the 8dv3nc8ff￿nt d&ducall￿., the ielief olthose in nBed ty ollll heollh, dlsabllity. haidsNp 0roth8rd1s￿Yanl89e.' Ihp *Jvancemenl olheallh orlhe Sa￿Trg of Ilve8,' and 8nyoiherchari18￿e puip050 and in particular.. iuch coll898S Dr 0th8rprof8ssional 8BL8bUshm9nts whhkn the South Yolrf$hlr9 Irèiftsi puiwsa ol.. Improving 8ccEss, laeillllea and aC￿-￿tio5 lordlgabled po4I6.' and OVI￿ry courses in lashlon IN dlsabl6d people,, provlding cours88 In 8¢¢e￿ible doihiro and fashI￿fOrySe bydi58bled pe￿? InsllLrtknns who ¢8n asS1slvlthth8 WOVYdknn of holld&ysfor dI$8￿9d peoplg Ihglr ￿rers, su¢h disablgd WOF49 4nd ih•ii vilhin lh8 SouLh Yoik5hlie area The Ini1Sd fj1￿ wor8 lo s81 up the ¢tharily In Ilw vAth Hirsl'B ￿11 t￿leMent and lo ￿9t￿r 88 8 ¢h8dtsblo iwst,. crea11￿ pold88 and prOC￿ule8 to support lth ongolng work olthe trjsl. A8 Hli8fs wll was sbll in prL*ale Ihrougthui t￿ first year ol operaoon, 0￿Y pHrt ol lh6 cap1￿1 was Iian818rffjd lo the TTUSI In Ils Ir31 yw. rr1￿5?8 vKr8 uied io sei up soma inlllal inveslm6nis and lo pay the expen868 8$sodaied %llh up tho Trust. The truslee6 Io¢used on itltiro up tho legal docum8ni8, s￿¢8m9, iewired pdiuej End the in¥e3theTrl8lr8tegy In the fi13lyear. Foi Ihe89 re8son3 the Trusteos dld Ml rnakl arysYfjnt8 tho Ilr81 y•arof opeiotknn. P￿blIC beniflt W8, Iho Trusi88s, confirm th41 ¥vg hava rèid Ind owl￿d lh¥ ChadtyComris*on'$ g￿eral guld&n¢o on b6MfiI to the b￿1010￿ kwwledgo, So¢lJl Inv•ilrngnl• Th& rru51e85 agi88d Ih8ifft po1¥i to Inwst lo ESG standards 1$ kng a$ thi8 do68 nol rwJuc4 Trust Incorne. Grintsniklng The truale81 wll rèvi6wg11 oppllcadons against ihe puipcoes ol ihe TnJBI. Al kasl two Iruslees wlll typrove ￿Y 8ppli¢alion. The Truslge8 may 8grie lo piovlts B grnrrt e&¥¢rfro morfrlhan on• yèar. i.g. to4￿¥ o m￿1￿681 coursè, Grants arè av8ilail&wllhin South Yothshim loilh• purpDM8'. lnyiov1￿ gcco$y, lacllluos and &clivilios loi OLIa￿ed peo￿0. h parbcular prNdding granis lowards cour8es In18shion lordisatled people, p8rb'cularfyforalds 01gdlu8trnènls lo Impr￿ 4ccesslblllW, Y￿ldIng gr8ni8 iowards cout888 In xeoi$lLq8 dolhlrtg 8nd f8$hionfor by d569b￿d In &ddilion ML￿leS m8y be av8ilabl8101'. Jch Snslliub"on8who can a8I81 th& p￿￿0￿ of9rants lu hc41thys, fOrnam￿l￿83b1gd 8NJ th•lr ¢ar•M. Such 0184bknd pwple r•S￿1r9 n the South Yoik$hSrn area. Remaining M￿1&¥ in e8th ye8rwhieh aro notaddod bscl Intoeawt81' rnaybo disth"buled lo.. klolabSNty orw0￿￿￿ House, RO￿￿￿ Road, Harlow, Essex, CM195PZ, Registered Charity Nunl)er299745, Qr Carwr R4seai¢h 012 Redman Place. Lond￿ E20 1JQ e￿ moievalid 8pplicalions a￿ ieceiYe¢ witNn 8 ye8rlhan mori93 avallab1e1h￿ th8 8pklications b& rbnked In thelolrMlng ordBr. any mull￿ve8r tunding pr8ViOUsly agr8ed uruenl Med dalèof applica￿0Th$ wllhln the ml8vanl yo Page 2 The Elizabeth Nicola Hirnt Charitable Trust ort of the Trust•e6 tember 2023 to 30 Se For The Period 11 Se tember 2024 OBJECMVES ANDACTMTIES People ￿7th disablityes wll bs èligi￿e provided thèy hava a Chi￿1¢ heallh corvJil¥)n or th58bility expècted tolasl alkasl slx monihs. The INS￿&$WIll wulre dlh6r pioolda dl$a￿1btY bonefflof mad1￿ avld8nco, # The IN81988 do wl exp¢¢l to provido gr8nts to uNlqr 18 y98r olds 85 &thool¥ alt98dy rKgivg contrpt govoMw￿nl lorelildren spada18duc8Uon need5 ' Th6 TfU8166& alffl to k06p Iho c4pil& Sum alhasl to I￿￿U1VIenl amuntln real lem6 on Inil2J bequest. #D8finlUon rrfdlsatlllty. thi Equ811ty Actr2010 A p￿D is wjnled a$ dlsabled under lh8 Eql￿l1ty Acl 201011 they havo a physkal LY rneDI81 ￿p￿￿nent Ihal h88 8'$L*8tantyaf and Deg8ll¥e effKI on thelr abilty to do n￿rnal dwly¥b'vib'95. kn ex¢èplknn lo Ihisls a person sevgr8 disfpuremonl. Th8 Act alw prOV￿e$ pmieclon lor non4$8b￿d Peop￿ who subjcded to dkecl discilnNn&tion 01 harassmenl ol thdi )58Dci8llon ¥Mth 8 disaw pergon. Th8 Act mrn.. sènsory Smpairmenis, such as those affecuw ￿9hIty mpaiimnig wllh nuclu&Una Dr rbcurlng ell8cls Such as rheumatrld 8dhri118, rnylsic en¢ophdlll$ IMEI, c￿￿1¢ lallgw synthorne ICFSI, fibiornyilEig. depression 8pllepBy progr855lv8, such as molornourone dlsea38, Tr￿cUlar dystrophy, 8nd forms oldemenll8 8uio.Immun8 C￿dI￿On8 such 8$ sysi£mlc ILVUS I￿hOMato$hS ISLE) oigan speciflc, Includlro respliatory condlu￿8, 9uch as asLhma. and cardbv88cLlardl86a8eB, Indudlw Ihron*oslJ, 81roke and he￿ dl89 d&velopmgntal, sucth 8$ gull¥liG ywtrum Lllthers IASDI, dyBleNia and dyswaxifj mentsi h¢o1th ￿d￿li￿8 ¥ymptthn8 luth 88 inX￿ty. low mood, aiLqck$, phc4)181, or unsfv8rnd pgrc4pUon8', oBllng dl$ord•rn', èIFdaraffeclv d$oidets', obsessl¥e compLlslve disorders,. peisonglity d￿orders,, FQSt ￿M4￿C stiesj disuder, and some 88ll*armlng b8ha¥loui produced by injurylo the tdy, including lo the ￿ain Howev8F, the ABI18lk8 a￿Ul,re￿SOnBb10 8dlv$lrKnls'. whkh may Ilmil the amunt of thjnty r8quired10 b• 8wII orlhè scy of 8dlusim•nt8. Th• urfeisLqndng ol whal may te ￿aSonab￿ loi dillerenl enlibes or diffarenl buslnessas iheielora boan darified Ihiough case law bul il is nol absolute. So, lor exanwle, a perBon wtth unlque com￿8X heatth ￿dIllOns Ihal roqulr• rowd tho dc¢k Core vill hawj lundlry to support Ih)g• neodB al horne or In e Cfjfe 58iUng bul wlll rurely find Jl p&Jlc Ihe level olsupFo1 al Same degree. http¥JlwvM.leglJl4ts'on.gov.ukJukpgpJ20101151¢ml¢nl$ ACHIEVEMENTS AND PERFORMANCE Thly Is tho firnl year ol the new tru81, and Ihe estate WBS still In probate. ThB rnoni85 ￿re Tdea58d In sm818mJnt$ and thè Iruii ¥Yas sll wgttlng lor meh of tho m¢n8ylo b8 lo ￿ Iransfvrrld. Thè bu$i88s not ha￿ wtyjgh Incom& thè naw Invèslmènls lo mak8 gny gfanis In its firslyear. Tthrewero ￿di￿onall￿gal and Inandfjl co81s In th8 firslyearloi 8etllro up tho new th8dty. The trust alm8 to maintain thg v?lue ol the c8pll* in real temts And dsbuw IFW remknder ol e8pIt81 onc8 •xpan8os ¥e pald. The trustees have mth IAlkql cont4cl with su118￿# charitiès in Sothh Yothshlr6. Tho tru￿ reL¥l￿d Lword¥enty ap￿￿￿tIonS In Iislyear but none metth& crflerba es 8&toul h Ihe IruBI deed 8nd Istrab"on. A¢hl•v•ments a911n￿ otyle¢UveB $Ot Achi8Yefflenls in thg first yg8rw9rg to appoinl the Tr￿8181￿al advi$ry$ 8nd IndÈpèndènl Financial Advisor, to agm in¥gslm6nl wlicy, ID Sutxnll 11 legal foimB lo Ihe Charity CL*mmY65ion in orderlo regi5terthg Trust bs a thariiy, to 4r8e thè Grant m8knny ￿11¢y, Its let ￿)lhe remalrxlerdihe pdlce8 and 8y8terns, Th were achl8vod. Fyndral$lThg 4clhfhl•¥ The TTusl&es Wt IunLtrgb8e. The TNslwa5 sel up to &mlnlsterthe We￿IrOM** estate ofms EIIz8beth NicoLg Hlr8L Investment PErfomiArbte The IIuBIo8s agrÈ8d a prDvlslonal relum of 8% on Investments VAlh the IFA Th1$ ha$ beÈn rnèi. Onts thè 8nb.ra baqu6s( •xpeded to bo at16asl £2m. hos been tran51erred 8nd inve51ed the trusle&s will actively seek Suitable beneficiarie5. kn remainiro monies each yeor from ihe piofits Ylll be alloca￿j lo Ms HirBVs nanxd sldu9ry chariles. Note thai th8 Tw5188$ W9rg aPfKAnted in lin8wth ￿8twIll 188t8ff*nl of Ms ElkabBth Ni￿# HItSI 8nd t8knng in1ogcwjnth6rrn￿ndUMO1w￿hes. Page 3 The Ellzabeth Nlcola Hlrst Charltable Trus ort of th¢ Tru$to9s lember 2023 to 30 Se ForTh P rlod 11 Se tem r 2024 FINANCLAL REVIEW Flnin¢kg1 po$illon Incm from don81ion$ And W88È2,555,325. 0th8rlncom8. Irt￿d￿g In¢om8from oihar Incomlng rtsouictt, was £34,342 gI￿ng total Ir￿￿8 fortr￿ yew of ,589,667. There was a nelgaln on Invoslments 01É161,581. Total exP￿d1￿j18fDrthO yearw88 £22,915, givlro netlncomo of Q,728.333. Prlnclpal lundlng 1our¢•i The Iiustwas sel up in line vilh th8 b8ryJesl Irom Ms EIiz8b8th Nicola Hir51. In lulure yea15 h811 of th8 inv85trnenl Inromfr will be used to rnaints￿ the Ca￿￿1 In roal 19mi¥whil& the rejl, afterdeducbng 8XP8nses, wlll be dlsbursed in lin8 wilh th& TnJ?l Deed. Inveitmtnt poll¢y Ind obh¢tlv•s Thg trustees am lo Invesl in Ine vAth ETrwiorwtal, sockql and gDveman¢8 tsclors. ￿re th15 WOU￿ nol $lgnlflcanly tho vglu¢ rt profits from tha Inveslm8nls. The disr181ionw fund managern ¥vw•8dvis•d tsl lh￿ pollcy. The maln risk Is uncert8inty Jboul in￿￿nen1 Incfft. Th? trustOeB rn08t rewlddy V￿th our Indepndénl FIn•ne￿I Adtri￿r lo rnv18w h￿￿rg3 gnd make ded6ton9 4boul Iho In¥e8tmeni ￿lCy. r¢•••rY•• pollry Ilwas agieott lthi Ihe Trwie&8 ShO￿d alm ¢0 malrtaln the cByLryl al the16vd ol lh8 Wuest, kn real tsrms. Add￿.9￿1 profits wll ￿ mad• aval￿￿0 toolthrs& kn lh6 wtth Ihe chadly's obi8rbves, Th• tru5t••È ho￿ 8 8m8118mDunl ￿ rnoneylor8nl1d￿l0d bllj, al other Incomow8s Inv86tod. Tot￿lU￿￿ ¢81118d fcrtvard arn E2,728,333 which aro all unn￿￿e￿d. FUTURE PLANS Irusl iims to makntsln lh& valw ol the capllal In Ral 18ims and dlsbur80 the iernlnd8r of the c8pi181 once ex￿n$85 ar• pald. Tho Iiu$le6s hav• mad8 knIUal ¢Ml8cI with 8uitst4e charlb'es in Swth Yoth8hire. 8TRUCTVRE. GOVERNANCE AND hJANAGEMENT Govgrnlng dwwmonl The charity is contrdled by Ite pyemlng doGumgnl, ? d99d of IwJld8ted 11 S¥tfjrnbei 2023 an urdworp0mt￿ charily. Chirfty ¢onilttullon Th& charlty15 an u￿nCorporated chBrfi8ble JJ8oclBIIw. R•cwuhm•nl8nd Bppolnlmentol n•wtnJ¥twi Thb inili81 Irusi888 4Ygr8 Hppolnl$d by th8 solicilorn deollng ¥Yith thè estslo h consumatbn wllh the new sdldtcr vtho W8B ith11411y appoirfed to managè thè IMnil•r from pnbaie to ihe Tiusl, The Trust cutyenlly has four Iruslees, vtho sfrrve for lo Ihigo yeaiB. Addillonal InJBlges will h 8Fwnl8d by the trusteès In C￿sUItatIOn ¥vifh Iho lfrgal ad¥boi. AJI InJBtsgJ uTrJewnl ID ch8ck8, eboapplied for D88 cwthlc*gs. InductSon and lrnlnlng oln•w Iruslq•i During Ihe fitsl yearTiusle8$ were lakln Ihrojgh IM InYe8knxnl pwss and devekylw an Inv88thwnl by tho I￿nd￿nI FInart¢￿I Advlw. Newtru3te06 have 8¢c838 to 8 Sha￿d dlrem ol wllcy document5 and Chailty com￿s￿On guldanco. Thegranl m8Wng crfloila Indude inlmtion about how to assess Ilsabilily In line wlth Lhe TiuBt'8 OlueB. Thesè ¥Ygi¥thvèloF4d by Mg W1115oms who has gxtansfvg experierKA gnd118lnlng kn dsability is$ug8 and polide$, and 89r8¥d by 11 Irusle95. Key m•nagwnent remUnfjr4￿Qrt Ther& 18 rrfipay n0rrel￿n0ratitsTr forkeym4nagemenl Fer9￿ne4. Rtsl m•n•gement The truslegs have a to Idgrilify and revl6w U* risk8 lo whi¢h ltr¢ ¢hwty 1$ expwd 8ThJ lo insur6 Appropilate c￿tr￿S a￿ kn p￿ce to Provide ieasonaN8 ssuron¢e agan$lfrBud and error. TRUSTEEV RESPON3161LITY STATEMENT The irusl08s we rgsponsiblg for prepadng the Report of the Trusts86 t￿ fina￿￿$1 staiemènts In 8c£tsdanctwith 8OIc8ble law unl￿ Krffjdom Accounlln9 S18ndards IUni18d knngdom Go￿l8UY Acc8pied AccountirvJ Praclc81. Page 4 Tlio lizalietli Nlcol Cliaritcible TriJ¥t rst >rt of the Trustr>ey tombor 2023 to JO So or rlod 11 bor 2024 TRLISTEFS RESP01451UILIIY STATEMENT. ¢vnllnu¢d IIM 4ViiiJh'o 10 ith1￿11￿$ Iiigi[II￿ ¢llhl W￿<￿9, Ilio CliJiAh)¥ Ad Wl I, Chdrity (Acuunls RoM91 Reg￿81th5 2CLQ ar¥J Iho W￿lS1onE0[ Ih ITu$l dÈ8d ￿K￿k}n d 105W(x)$, I￿￿j1￿ 411d 0Xw￿l1￿1ll, of Ch￿ty lor IhAI poll￿. In yoparing Ilioso IinarKil 3l*iiemenls, Iho IIu8le&5 8rp tknew41￿ rn01m￿S ￿ piiiwles Iii Ihe Lharlly SORP.. 91aifywWl*r,M)Ir.3th $1.wdafd4 havo IL11(1￿, 9ubi8cl lo ma•iial L*pciilures dis￿0$￿￿ atKJ oxrlJinc41 in Iho fInarK1￿ ilaLemonis,' Il',iJS*ID Ihei,nsrn'kY $liiièmtYiis oil (x)n¢ern bA&IS illl'it)81 il 14 Inappropri￿le to pwumo Ihallhe charity vim b￿nI1￿u• In thsine88 Th)1',1151wi.*v lor k￿,plnq pryr munliiii wids ¢iascbso viilh feownobfv al any Ilrne It￿ Ilnartw pwillN ol Iho thartly arxl 10 2W8 afid Iho prwisloiits ol Iw81 ¢knJ Tw rf*gwitsiblo safegu8idin¥111¥ &4$01s of tharAy ond lty18kliw Ioayona￿9 sl(4)8 lor the provonlwjn oryj ￿&￿tIl0￿ tsl Iraud I S4.2/<4 othiol Iho iwid¢ltswEtQo8 on......,.. ,Ind sIGn￿ on ils belidl by.. Pago 5 he Inde trndent Auditors to the Trustees of The Ellzab8th Nlcola Hlrst Charltable Trust Oplnlon We hav8 8udit8d lh8 fin￿¢la1 sl8lem8nls of The Elizabeth Nicda Hlrsl charl￿ble Trust lthe'tharlty'l for the pth(O e￿e￿ 30 Sepi8mb8r 2024 which wrpr￿8 the Stslomgnl of Financlal Actlvibe5. 8818nc¢ Sheat, the ¢g$h Flow st818r￿n1 8nd noi0$ lo the fln8nry81 slalemgnl3, In¢￿ding a 3umm8ry of s￿n￿c0n1 tK)liues, Thè financial rerrt)rtlng Iiampwork that ha5 been apF4i8d in w8pwElion 15 applicabl& law ond United Acwjnting Starthrds lihited Kingdom GenorallyAccgpted Accounbng Practice). In ovi oplnion ￿ finanael 618tements'. give & liuo fair w8w ol th8 sl818 ol chwity5 8ffBir5 88 al 3D Sep18rnb8r 2024 and of It8 incomkng re8ourcè8 8nd 8pplkAts'on ol r88ources, Ihe p￿r en ended., have been prO￿ty piepaiEd In aC￿ljanCe wlth Unlied Klrngd￿ Generally Accepted AcctyJnlSng Pr9d1￿,, a bave boen prepared in 8ccordan¢evilh the requirernents olth& ChailtsesAcl 2011. Bas15 foropSnlon We CO￿U¢led Iwrwjdil in P•xoidan(* wlth Iniemauonal Sta￿ards ￿ Audlllng IUKI IISAS IUKII ap￿le3t41 law. Our Msponslbiiiiles under those stwoaith are lunhei descnbed In Al￿10￿$, IOSFth$ibi1￿I&S toi Ihg audit ol the financial slal&nenis section of our rep)rL We ai6 i￿ePendent of thè chadty in accordance with the e￿ical requirem8nlB that are relovanl lo our audit ol finanaa slaloments In UK, Including the FRC'S Elhical SLqndarO, we hav8 fulfilled cw olthr ethic811&5pon￿bth.tlts in accordance wilh I￿￿se r8qulr9menlB. W8 bollevg thal Ihe audil ovKlen¢o we ha¥¢ obL8lnod 8ufficbenl 8nd BpwoprHi8 to wotride 8 b8S lor1￿rapiDl0Tr, CoTrcluiloni Mlillno lo golTrg concqm In 8udiUng tha financlal siaiemenls, we havo eoKlud6d that tho tru$tO¢8' w ¢1 tha wlng eon¢wn b9¥18 ola¢¢ounllng In tho pitwglon of1￿ fln9nd￿ st818rn6nt8 19 8pwopri&t&, Based on Ihg work we have p8rformed, ￿ h8ve n¢1 idenlthed gny matedll uncerfalnlle8 to evenls ¢r ¢ondibons Ih81, Indivldually or collocuvely, m8y ca$1 slgnlfflcanl doubl on Lhe thadty'6 &illily to conunuo as & ooing concern for 8 per￿d ol gt leo81 ￿1¥0 m￿1￿8 Irorn when the fin&ndd stslernants 819 au￿1$ed IBSUO. Chjr rBsponsibllrtle8 8nd the r￿POnSibl11b￿s of tho InJ&leg5 with iejpecl Io gcing ccncem arfr described in the relgyanl 8Kb'ons ollhij report. Olhfrr Inlorniitlon The t￿￿1088 respMs1￿O loi the olher information. The other InbM￿￿on ecth￿Se$ Inlonn8Uon induded In the knnual Roport, othfri than the slèlemfrnls 8Dd our Report ol the I￿ependent Audllor9 Iher80n, ¢)Jr oplnion on the fin8no81 $taltrmBnls d¢ei not ¢ovgr the ¢thw inlormylknn ¥nd, 9x¢ept to Ihg gil•nloth¥rvis1 ¢xpllriVy Jt4ied In OLY ro￿rt, wè th) wt exyw$ any fomolassurnnc6 condusion thaieon. In cornnectlon ¥Ath our audll ol Lh& IDanclal slal8rnonL8, ¢yJr 1fr5ponslblltty Is to read the other InfoMallon and. In dolw so, ￿SId￿r vhglher tho Qtf¢r infoimNlbn Is lèH81ty IncM$i$tèni the flnar￿￿oI $1119m8nls ￿ our obtsined In Ihe 8udll or olh&wse a￿eBr5 to be rn8l8ri￿lY MI#s￿led, 11 su¢h rn81erial incon5181oncie$ or appèrenl maleri* mlsst8temenis, ￿ Ire requlied to d￿errrI￿a whether IhlB gives ri88 10 8 maieiial mi5$t8tèm8ni In Ihè I￿and 5talem6nls Ihemselveg, W, based on tha work wa hav8 parf0m1￿, w• cothi IhAI Ih•m18 & Matarf￿ M￿$￿￿men1 of th1$ other Intr)rmaNrrt), We 8r6 roqiirnd ID port Ih8118cI, Wè hgve nolhlng lo repoil In Ihls rega￿, MitterJ on whl¢h wo •r• Mqulmd to report by qxceP￿#￿ We have noNng to report In ie6p8cI ol Ihe fol￿ni mali&rs where Ik4 Ch8rfI68 (Accounts aThJ Rep￿ts) Regulatkn$ 2fM)8 req￿re8 UB ID report lo y¢JJ11, In our opinknn,. the Infcrfflabw given In the Report of the TnJ8tees Is IrKAn51sierf In any rnatert81 rnspectvllh the flnan¢l81 slolements.. Qr Suffici￿1 accounlng recoid8 havg not b88n k8pL th8 fn8nci81 slH18ff*n15 ar8 not in 8greem8nt with 8ttJJnting tecord5 and r8tums,' we have nolr8C6hd all iho inlomalkn and exp18ndli￿# wo requiro fNoJr8udil. R•$p¢nslblllll¢i oltw6l*•B A8 explained more lully in Ihe Tiuslees, Respon61blille$ St8tement, Ike Iru8lee& a￿ IwonsiNe forthe prepaMlSrm of the f￿￿n¢￿￿ $talthThnl$ whith glve 8 wd lair viow, and IN such inleinl conlrol a$ trust￿ d818￿nin9 18 ￿CesSary lo onablg Lhe Preparati¢￿ of fin8Naal stai*nènl8 thai ai8 Ir8è fi￿￿ ma￿nI1 fflissiat8m8DI, wh81herdu8 to IraLKlorerror. In prppadng the ffin8nci81 stslpmen15, Iru51ee5 arE fE5wn$S￿e fDra55e555ng Ihe chathls abillty lo ronlnue as a wlng concern, di6¢108ing, 88 appllcable, rn8tter8 ielaled lo golng concein find wlng the going concom basis ol accounuw unless the trusiees eitherlnlend lo liquldale ihe chartly N to ￿88& operalknn8, 01 have no reaisb'¢ allernabve bullo do so. Page 6 Re ort of the Inde endent Audltors to tho Trust•e$ of The Elizab•th Nicola Hlrst Charltabla Trust Oui r•8pon8lbniii¢$l¢rth• audll olth•15nan¢lal $latem•n We have been 8ppoinled 8$ auditors wder s8cl￿n 144 of the Ch8ril88 Acl 2011 and report in awrdw¢¢ vlrfh t￿ A¢1 8nd rol¢vwl r¢guL4tions Ma￿ or h￿r￿J 8ff8cl th8r8undèi. Our obj'ectives are to obtain reasonablb assuian¢e at*￿1 wholhei the finan¢id stalemenls a$ a wMIo arè tree trom materf￿ mlsstslemenl, wtsther due io fra￿ error. and ID158U8 8 Re￿rt ol th8 Indep&nd8nl AudilDrs thal indud&s our opknion. R8asMatrA8 8s$urance IJ a hlgh levd of assurar￿8, bLrt is ml & guar8nl88 that an Budil (x)nducled In aC￿rdanCe with ISAS IUKI VMII always delect a Materi￿ rnis8tatemenl when il exist8. Mi58talefflenls can from fraud or error and are n$k18r8d wt8ri81 il, Indmduarny LY in Ihe aggr8g8t8, th8y could 18ason8Ny be fjxp8c￿ to influ8nce the £cononlc decis￿5 of u5916 iakBa ￿ the basA5 of these The extenl1owh￿￿ rMJrpr0¢8durei ore c4p8ble of detscbro irreg￿an￿8$, nduding fra￿ isdet8lknd belfAv'. Eryuiry of man8Q8m8nl around 8nd POtsnl81 Iltigsllon 8nd daSm$ frEud', R*¥￿irl minut85 01 mo8liw5 Qf thosè charged vilh goveinwce,. R8¥leMryry financlal sLq19monl d18do$ui96 to assess comrdiawA wllh llwicablo Lqw8 regu18b"oD8.' Pfrrforming 8udbt th ovgr lh8 n8k DI m￿a98M8n1o¥erride of controls, induding r8Vi0wof c85htrpJok Iran5acb'on5 and clheradjusbnonli for ppriyiig1gnè8$ ev8lu&iiffj Ihg bwlne$8 14t￿nall ol any $ignllcanitran$8Ction$ wtsldè tho nomal coursa olbuslno88. 88causo ol Inherent limilallon8 ol an audit, the￿ is a rf3k Ih81 we not delecl all irr8gulairti&3, Indudlw IhD8e1gadln9 lo ¥ mgterial ml$$Lqlem8nl In tha finandal 8tstem6nlB 01 ￿{￿-COMplI￿n¢0 vAth regul8llon. Thi8 I￿k I￿leaSe8 the that compliance vAlh H Lgw or r¢9u18b￿ l¥ removed Irorn the •von15 and traDS8clions reflKled in Ihe flngncl81 *olem¢nl$, 8¥ wo vllll bp le5¥ Ikely to bKome awaro ol kn¥lBnce8 of non-¢om￿O￿e, Tho IL%k L8 also grn&l8r r6g8rding ImgUla￿lle5 ocruttlw lo tral￿ mI￿r Ihan orni. a5 Iiaud Involv85 Inlenllonal concoamonl. lorgory, colusion, r￿n￿slOn or ml$ffjrye8eDlalknn. A furfhEr dèscdpuon of our rasp￿81b11tt￿S for ￿di1 ol Inancl81 S￿￿M•ntS Is loca￿d on ihè Flnandol Repo￿"￿ w8bBho al w.frc.oig,uklaudit0rnras￿￿b￿l1lI1S. Ths dèscriplkn Icrfftb part olour Riwt ollm I￿er￿denIAudItOrn, VM olour r•port This reporf is m8do solety lo t￿ th8riV¥ tN8lo88, 85 a body, In 8¢¢ord*ca P8rt 4 01 th8 Chaillles IAcc(NJni8 gnd R9porfsl Regulglons 2C()8, Our 8udll h88 been underfak8n so thalwe might Alale lo Iho charills Irusl088 ihosè m8tte15 we aro requlredlo slaiè lo I￿rn In an audllorn, report ar￿ ILK ￿ olhfri purpo80. To fullèsi eilenl pemimed bylow, we do nol8ttept 0188gume resw81kn11ty ID anymother Ihan Ihe chBrfty and chplV8 tru8lee8 88 a bJdy. forouraLLII loi this report, or lorlhfr oplnh)n8 we h8ve fcn16d. 'n9S￿0d Alknits Llmiled, Statulory Audttor Chartered Accowtsniq Skllngs Court L8keslde DMca5ter South Yorkshlr8 DN4 5NU Dale.. ?0? Pago 7 ho Elizabeth Nicola Charltablo Trust Irs Statement of Flnanclal Actlvltlos F r The Perlod 11 Se tember 2023 to 30 S tember 2024 Unffjslrlcted fund INCOMEAND ENDOWMENTS FROM C%ThlioDB Prt 2.555,325 Invtglmentiro)m8 34,342 T¢tsl 2.589,667 EXPENDITURE ON RAi$ing I￿￿$ 7,878 15,037 Totsl 22,915 Net gains on Inve8trn8nl3 161,$81 NET INCOME 2,728,333 TOTAL FUNDS CARRED FORWARO 2,728,333 Thè notes form part of these financiol stotemenls Poge 8 ThoE 17.Ibtlli Ni¢olLI Baltinr.o Shp.￿1 tainhor 2024 Unroslricted fund t*)185 XEOASSETS Iwesinion19 816,611 CURREl￿A$sETS Cash olbw 1,117.(Ki) 1,917,L CREThfoRS ArwLni. I￿[1￿ ￿ar 1.S.J411 NET cVRREI￿ ASSETS 1,911.6 TOTAL ASSETS LEYS CURRE14T LI￿lLInES 2.128,3XI NEf ASSETS 2.728,M3 FUNDS .,Ii&lwJ lunda 2,72&311 TOTAL FUNDS 2,71333 )2S Tho finaDd* ¥lalgmBrtB ¥¥eto ¥1)fDved I,,y1￿* BoaFddTru$lw8 aThl oulhwhed lof ￿....... . A D TL.dL.. TIu51vg rvjles fomi part of Ihtse lin•ncial stalamenls Poge 9 Eliiaboth Nicola Hir¥ Charltable Trust Cash Flow Statement For The Perlod 11 Se tember 2023 to 30 Se tember 2024 Cuh flm fmm op•rollng •dvitw• Cash 9gnw81od from OF4f8lons 1,737,751 Notca¥h byopwalw 1,737,751 Ci¥h flo￿ from Inviillng a¢tfvlU•• fchdsè olfixad asset Invo$trnenls S81e olfixéd as$el Inwlmfyn lllter881 iec8fv6d 11.S)2,1461 847,1￿3 24,342 Nel cash (Lwd Invprovkled ty Inv8611ng 1620.7511 Chang• In ¢•ih •nd ¢Mh •qulv•l•nt• In th• r•portlng p•rlod C•ih •nd ¢&•h •qufvilonts itth• b•glnnln9 olth• r•portlng p•rlod 1,117. lh •nd Mih aqu￿41•nt• ￿ th• •nd ollh 1•pO￿￿9 p•ih)d 1,117.OOQ Th8 notes fom part of these flnanclal 8talemenl8 Page 10 Th• Elizabvth Nlcola Hlrst Charitable Trust Notes to the Cash Flow Statement For The Perlod 11 S& tem er 2023 to 30 Se temb¢r 202 RECON¢ILIAnON OF NET INCOPIE TO NET CASH FLOWFRoMopeRATIPIG ACTMnES N4tln¢om• Iwth• rnportlng p•rfod p¢rlh•Stsl•m•nt of FlnandBI Athltt•sl Adlualm8nts lor.. Inlwasi roceived ins on invostmwts IncroaB& in dobt018 Inu8a8e in ci8dttois 2,n8,333 134,3421 1161,5811 18CQ,OMI 5,341 Not¢uh pra￿dId by•)p•rniIoMI 1,737,751 ANALYSIS OF CHANGES IN NET FUNDS At 11.9.23 Cash flow AI 30.9.24 N•twh Cash 81 bank 1.117.ofK) 1,117,0 f.117,LbXI To 1,117,fpXI 1,117,000 Thè notes form part of these fingnclal stalemanls Page 11 The Elizabeth Nlcola Hirst Charitable Trusl Not9$ to the Flnanclal Statements htr Porlod 11 Se lomber 2023 to 30 S¢ t&m r202 ACCOUNTING POLICIES Ba818 of prep8Ang tho flnonclil slatem•hts Thè financial 51atemefjls of the ¢harily, which is a public ben&fil entity under FFIS1D2, hav& beÉn piepared In 8ccordgnc8 vAth the Chwib'es SORP IFRS 1021'A¢coun)ng And Reporting by Charilles.. Statement ol R8commend8d Praclice 8roliczble lo chaiitie5 wepanng Ihwr acixunls in accofdancewilh tha Finoncial Reprtiro $18ndard ap￿le&blo In th& UK 8nd Ropublic ol Ireland IFRS 1021 loffectwe 1 janu￿ 20191.. Finan￿￿ Standard 102 'The', Finaro81 RBFxKb'ng St8ndwd appllcAbl6 In th8 UK and Rgpublic of and the Ch8nli8s Act 2011. TD& flnanclal 8L8lements have Oegn prepared under Ihe hlslorical cost ¢¢nvenUon. wllh the excepllon ol￿Ves￿l￿ntS wh1(* aielncluded al rna￿￿1 value, 85 rrndified by th8 revaluation ofcertain assels. Thè cM$klèi thai thère are M mèlèrtal unt4r1alnll•$aboth ihèTrusl's at411ty1o t￿￿nU64$ a gokng concem. In¢0 All incom13 rec4gni￿ in the Stslomonl of Financial Acti￿tiO5 once lth charity has entiuemenl to trefuDd8,11 l¥ probgbl8 that I￿ Incom0￿ll b8 ro￿1¥0￿ and the 8rnowI can bo ￿￿aSured r£llaL4y, Logaci8$ ai¢ Indud&d In th& Stsi8m8nl ol FI￿nCIBl Ac1￿119￿ whgn fBceipI i¥ wobabk, th81 is, whgn thw h#5 ￿eTh grant ol probate, the execut￿5 havo estsbhihèd thai th8r8 Ar8 SUff￿1•nI 159èt8 In Ihl eslèlè 8nd Any condllkns ￿tA¢had to the legocy are ell￿r ¥wknln ¢ontml ol tho chalky ￿ hav& been mel, Expendllur• Lkgbllili&s 318 ro¢o9nised axpendliurg p8 won a¥ therols a18yl orconstructiva Obl￿a￿on committlw tha charity to that exp0￿1￿1#,11 Is prob0￿￿ that a Iian5101 of BCOnDmk bonofl15 VAII bè Nqulrud In $OlU•menl and Iho amount ol tho obllgalion can bo mfrasured 1oliat4y, ExpfrndSlw8 Is a￿0V￿led lor on èn 8ccrual$ basls and has been dasslli6d undef haadhgs that aggregale dl co$1 iolalod lo the calegory. Wh818 cannol ￿ dlf8¢lly Aimbuied lo paiUcul81 headlnp they havo bo8n allocated ¢0 eclvll86 on a bae16 con818lenlwith th& u8?of MouK•¥. Taxill¢n The (harity is èxÈmpl Iiom lax on its tharitable ac1￿1101. Fund aC¢oUn￿n9 Unre¥thcied fund3 bg used In 3￿¢¥￿tt¢0 ththa c*8rftabl? 01g¢tlv•$ 81 thè dI￿rItIOn 01thglnJst888, R￿IdCted lund8 can ￿lY bo used lu part￿￿ar 198kn"clo0 purkw&s vithin the Obl￿ts ol the ¢N8rtly. RF8trk￿thx 8rfst whBn Spoc￿VId by the donor or when lundB are rnlsed loi parUpJI8rrestrlc￿d purpoJ•J. Furlh8roxF48n81kn ¢lth¢ ngtuio and pUlp￿ty ol aa¢hIU￿ 1$ i￿lUd￿ In th¢ note8 tolM fln8￿￿1 itglomonts. Inv•ilmenti F￿ad 855el inve8tmgrf¥ are included ID the fin8ncl81 st4ternentF alfali VAIL* I¢y8n matht valL418nd gross hveslmenl incomo IJ InC￿ded OTr 8 iecelveble ba518. R&a118ed ond uDr8lised gain5 8nd105s85 on Invesim8nt8 and flxad a$$èts ar• discbs£d sèpar8t8ly In th& 8ccoJnls. gain8 or losses are lak•n lo st8￿ment offin8Ma￿ 4¢1iviliès as t￿Y$￿$•. Flnancial In•tr¥mgnts The ¢hJrily wly holdB b8slcfln8rKI* In51Nrnents 88 detred ty FRS102. Tr finandal 8s68ts Inancial 1lablllb.os of thg charny and ihfrlr rneosuremenl basls ai8 as lollNJ'. Fin8NJ8185sets - iradg and other debtorn are b88k financid In8inJrnents and are debt Inslrurn￿ts rnea3uied 81 amortI¥￿ ￿51. Prepbm arg Ml finanda knslrumenls. Cash 81 bank-ls cl8$$1figd 85 ¥ b95K financl21 instNm8nl andls ffje8¥u￿ 91 IA(*Vg1w. Finandl li8￿￿18$ lrndg ¢￿dItorS. accruals and oihei ￿01t01$ are financial Instruments. are ff¢85uretJ at 8rnortis8d c051. T8xaMon gnd socbal secwity ere nol I￿1￿ed ID Iinanclal inslrumgn15 dlsc105ure dgfiniuon. Deferred Income b nol d8ern9d to b8 8 fin8nclal lia￿lIty, as the cash selllefflenl h8s èlready 18k8n place 8nd there is an oblipty'on io delivw 8ttvka8 r4ther than rA8h or 8mlh8r finarKial in$trumenl. Publlc tenefft entity COnce8￿0￿8ry arè IniU8lly r8cwlg8d al th8 8mounl iècèSv8d thè carryiro valua is adiusled lo rofleclanyaccNed inleiesl, Page 12 continued... The Elizabeth Nicola Hirst Charitable Trust Notes to the Finan¢lal Statements - continued For Thtr Period 11 Se lember 2023 to 30 Se tember 2024 DONATIONS AND LEGACIES 2,$55,3 INVESTMENT INCOME Inve$lm8nldoposb' inter￿¢ lrtome fvom Ilst6d in¥eslm6nts 16,007 18,935 34,342 KALIING FUNDS I￿￿$tMont mAn•g•rn•nl¢o•ti Portfc4k) man8oèmanl 7A78 SVPPORT COST8 Governan ¢osls Other Total8 Other rosouices expended 9,697 5,340 15,037 AUDITOR8, REMUNERAnoN FeeB payatle lo the chaiWB awllcn forthe fjudllollhe thairf18 flnandl stslThnt8 Audllorj, r8mweralkJTh lornon wjdl work 1,440 Tot8118•s p8y8bk• 5,YO TRUSTEES, REMUNERATION AND BENEFThS Tharewere no Iw81869' rarnuner8llon ty0t￿r bonefiwlorlhg Pgri¢d 0Th19d 30 Septern¢•i 2024. Tr￿8￿￿, •xp•tho•s Thgrg w9tq no truste9¥' 0xpBn￿$ pald forthg perf￿j fnded 30 Seplernhr2024. FIXED ASSET INVESTMENTS Listed Investments ARKEf VALVE Addiliom DIspc6￿3 Re¥auation¥ I.￿2,146 1688,9781 3,506 AI 30 Septernbei 2024 816.674 NET BOOKVALUE At 30 S8plemtw 2024 816.614 Thwe wgre no lnvesbm￿I asseL8 outsldg the UK. Page 13 conlinved... The Elizabeth Nlcola Hlrst Charitable Trust Notes to the Flnanc5al Statoments- ¢ontlnu?d For The Perlod 11 Se tember 2023 to 30 Se tember 2024 FIXEDASSET INvESTMENTs.￿n￿nUld The inveslm6nl portlc4'0 1$ managed ￿ behaWof the ¢ornpany by lth Welth Man*Jemenl Grow, Al 30 S6Pt¢Tr*8r2024, 811 of the p%Ur4io *35 inves18d Il$18d inve8lmenL8, T￿ galn on invgslnwnl 08s61s In tho SOFA of È1fj1,561 IB up of a ieatlsed galn of £158.075 on InvesbTrnts sdd in th6 y48raTht in unma￿Sed galn 01£3,506 du8 to 8n increase In the v8lw ollnveslmenls hBld al ye3r8￿. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR PrepJyTnen18 and Ic¢n￿d incom6 Boo,0 10, CREOJTORS.. AMOLINTS FALLING DUE WFTHIY ONE YEAR OthfricreLI 5.341 MOVEMENT IN FUNDS Nel movgmènt In funds At 30.9.24 Unmstrf¢t•d lund• Gonoral fund 2,728,333 2,728,333 TOTAL FUNDS 2,728,333 2,728,333 Nel rnovemenl In Iwds, I￿￿dad In a￿va ar8 81 folkny.. Incomlng re8ourc88 Re80urc88 expend&d Gains and 108886 Movemgnl In funds Um#Aci•d lund• G8nwal fund 2,$89.6e7 161,581 2,728,3 TOTAL FUND8 2,589,887 122,9151 181,581 2,72B,333 12. RELATED PARTY DISCLOSURES Thorewore no relatsd ￿rtY trarthcUDn$ lorthe perlDd ¢ThJ¢d 30 Sgpigmber2024. 13. ULTIIATE CONTROLLING PARTY Thg ch￿ty 18 ￿tIMatelY ￿tr￿led by Its trustees. No indiwidu81 fvu5tO8 h88 control, Page 14